Raja_Chart_Advise

Equifax (EFX} Daily

Short
NYSE:EFX   EQUIFAX INC
In September this year the credit monitoring company plunged nearly 10% witnessing a collossal 35% drop after it disclosed last Friday a massive data breach, which possibly impacted up to 143 million Americans. The stock's drop has wiped out about $6 billion of its market value in the process. The Equifax breach was not the largest ever, but it was notable for the kind of information that was put at risk.Post that the prices had reached oversold region and then the rebound happened over the past few days have started struggling near the 38.2% Fibonacci retracement of the sharp decline. After rebounding a minimum 1/3 the selling pressure has started emerging and the Bollinger Band has narrowed forming a squeeze leading to a possible decline in the coming days. Hence a short below 107 is a good trade to initiate.Once it emerges updates shall follow.

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