Equifax Inc. (NYSE:EFX) Target $50

Equifax Inc. (NYSE:EFX) Target $50

Equifax Inc. (NYSE:EFX) Target $50

Equifax Inc. (NYSE:EFX) has failed to handle the data breach situation and we have lowered our Target Price $50

143 million Americans had their names, Social Security numbers, birthdays, addresses, and other information hacked by a massive breach in Equifax ‘s (NYSE: EFX) database.

At least five state attorneys general, including those of New York and Illinois, said they were formally investigating the breach.

The Federal Bureau of Investigation said it is tracking the data breach.

The U.S. House of Representatives Financial Services Committee and the House Energy and Commerce Committee both announced plans to hold hearings examining the breach.

The Republican and Democratic leaders of the Senate Finance Committee wrote to Equifax with a series of questions about its required safeguards and asked that committee staffers be briefed by Sept. 15.

Insiders Dumped Stock After the Breach and Before People Knew About it, they claim they did not know!!!

The company waited 40 days after discovering this breach to reveal it to the public.

Name Position Date Reported Shares Sold Proceeds
John Gamble CFO July 31, 2017 6,500 $946,374
Joseph Loughran President, U.S. Information Solutions July 31, 2017 3,000 $584,099
Rodolfo Ploder President, Workforce Solutions Aug. 1, 2017 1,719 $250,458

Moody’s Investors Service said on Friday that the breach would impede Equifax’s growth over the next three to four quarters and hurt its reputation as a custodian of consumer data.

 

EQUIFAX INC closed down -16.970 at 98.990. Volume was 1,262% above average (trending) and Bollinger Bands were 519% wider than normal.

Technical Outlook
Short Term: Oversold
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 is currently 25.2% 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.N (bearish). Our trend forecasting oscillators are currently bearish on EFX.N and have had this outlook for the last 17 periods. Our momentum oscillator is currently indicating that EFX.N is currently in an oversold condition.

Candlesticks

A big black candle occurred.

This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.

During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A dark cloud occurred (which indicates that prices moved up strongly on the previous bar, opened higher, but then closed significantly lower). This implies weakness as the momentum appears to be shifting from the bulls to the bears. Note that the lower the close of the black candle (relative to the white candle), the more bearish the dark cloud pattern.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with EQUIFAX INC), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle’s real body.

Experian plc is an information services company. The Company brings together people, data, analytics and software to deliver a range of services for consumers and clients. The Company’s segments include Credit Services, Decision Analytics and Consumer Services. The Company manages data that helps businesses and organizations to lend, and prevent fraud. The Company uses data science, analytics and technology to unlock the value hidden in data. The Company helps brands around the world to connect with people, whenever they communicate and engage with them and on whatever device they are using. The Company provides online access to a person’s credit report and score, giving them the tools to understand financial status, and helping to protect against fraud and identity theft. The Company conducts its operations in North America; Latin America; the United Kingdom and Ireland; Europe, the Middle East and Africa (EMEA), and Asia Pacific.

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S. Jack Heffernan Ph.D. 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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