Equifax Inc. (NYSE:EFX) Will Trade Sub $100

Equifax Inc. (NYSE:EFX) Will Trade Sub $100

Equifax Inc. (NYSE:EFX) Will Trade Sub $100

News Highlights

Equifax announces cybersecurity incident involving consumer information.Equifax Inc – ‍announced a cybersecurity incident potentially impacting approximately 143 million U.S. consumers​.

Three senior executives at Equifax, including the company’s chief financial officer, sold almost $2 million worth of the company’s shares just days after it learned of a hack that might’ve exposed the personal details of almost half of the US population.

Equifax is maintaining that the three executives did not know about the breach when they sold shares.

EQUIFAX INC closed down -19.490 at 123.230. Volume was 2,398% above average (trending) and Bollinger Bands were 143% wider than normal.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

EQUIFAX INC gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

EQUIFAX INC is currently 7.0% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect very strong flows of volume out of EFX (bearish). Our trend forecasting oscillators are currently bearish on EFX and have had this outlook for the last 14 periods. Our momentum oscillator is currently indicating that EFX is currently in an oversold condition.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -464.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

Equifax Inc. is a global provider of information solutions and human resources business process outsourcing services for businesses, governments and consumers. The Company operates in four segments: U.S. Information Solutions (USIS), International, Workforce Solutions and Global Consumer Solutions. Its products and services are based on databases of consumer and business information derived from various sources, including credit, financial assets, telecommunications and utility payments, employment, income, demographic and marketing data. It uses statistical techniques and software tools to analyze all available data, creating customized insights, decision-making solutions and processing services for its clients. It helps consumers understand, manage and protect their personal information and make more informed financial decisions. The Company also provides information, technology and services to support debt collections and recovery management.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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