Where Could Equifax Inc (NYSE:EFX) Make Landfall?

Last week, it was reported that the leading credit services company Equifax Inc (NYSE:EFX) faced a severe data breach. The breach could impact 143 million U.S. consumers. This news sent the stock price of the company tumbling lower. The stock was trading at around $140.00 a share before the news of the data breach. Today, EFX stock is trading at $111.22 a share.

Traders and investors should note that when a stock declines in this type of pattern such as EFX the selling can be violent and long. Many traders might remember when Target Corp (NYSE:TGT) reported its data breach, the selling was sharp and the stock has still not recovered from its decline. EFX stock will have some near term support around the $100.00 level, but the stronger chart support will be around the $92.50 area. This chart support level was tested in February 2016 and should be solid support when retested for the EFX share price.




Nicholas Santiago
InTheMoneyStocks