Equity Residential Is Crumbling Down

by Sam Collins | August 15, 2013 1:06 am

Equity Residential Is Crumbling Down

Equity Residential (EQR[1]) — This real estate investment trust (REIT) owns and operates a national portfolio of apartment properties. It was on my Stocks to Sell in July[2] list, after closing below its 200-day moving average.

The stock has been in a downtrend since a death cross was executed in October. It recovered only to fail to penetrate the bearish resistance at $59 and reissue another death cross.

This week, EQR closed below a quadruple support line at $53 and appears destined to fall to the mid- to lower $40s. Selling is increasing and MACD is in bear territory.

The dividend has so far been stable, but earnings for 2013 are estimated at $2.85, down from $3.11. Sell EQR at the market.

08 15 13 eqr 300x188 Equity Residential Is Crumbling Down
Click to Enlarge

chart key 300x84 Equity Residential Is Crumbling Down[3]

Endnotes:
  1. EQR: http://studio-5.financialcontent.com/investplace/quote?Symbol=EQR
  2. Stocks to Sell in July: http://investorplace.com/2013/07/stocks-to-sell-san-ctl-cxw-eqr-exc-pom/view-all/
  3. [Image]: http://investorplace.com/wp-content/uploads/2013/05/chart-key.gif

Source URL: http://investorplace.com/2013/08/trade-of-the-day-equity-residential-eqr/
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