• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Real Estate

CyrusOne Is Stabilizing and Getting Ready to Rally Again

The fundamentals sound strong but it is always a worthwhile exercise to check the charts and technical indicators.
By BRUCE KAMICH
Apr 19, 2018 | 08:53 AM EDT
Stocks quotes in this article: CONE

Our very own Jim Cramer interviewed Gary Wojtaszek, president and CEO of CyrusOne Inc. (CONE) last night on "Mad Money" and that prompted me to check out the charts of this data center REIT. The fundamentals sound strong but it is always a worthwhile exercise to check the charts and technical indicators. As Jim tells his viewers it is important to know the risks.

In this daily bar chart of CONE, below, we can see that prices have been trending lower from November. Prices broke below the 50-day moving average line in December and the slope of this indicator turned negative. The 200-day moving average line was broken in early January and by the end of the month we saw a bearish dead cross as the 50-day fell below the 200-day line.

By late February prices stabilized and turned sideways. The daily On-Balance-Volume (OBV) line began to rise telling us that buyers of CONE became more aggressive. Yesterday prices closed above the still declining 50-day line.

The trend-following Moving Average Convergence Divergence (MACD) oscillator gave a cover shorts buy signal in early March and another one the other day. This indicator is not far below the zero line now. Crossing the zero line would be another positive for this stock.

In this weekly bar chart of CONE, below, we can see that prices are below the declining 40-week moving average line. The weekly OBV line shows a mild decline since November but the line may be turning flat now. The weekly MACD oscillator is narrowing towards a cover shorts buy signal on this longer time frame.

In this Point and Figure chart of CONE, below, we can see an upside price projection of $56. A rally to $56 would put CONE slightly below the 40-week moving average line.

Bottom line: it looks like the correction in price that shares of CONE have made since November is coming to an end. More sideways price action is possible but aggressive traders could probe the long side of CONE on a close above $53 (the March highs) risking below $48.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from trading individual securities.

TAGS: Investing | U.S. Equity | Real Estate | Financial Services | Executive Interview | Mad Money | Stocks

More from Real Estate

The Housing Market Is Turning in an Ugly Direction

Bret Jensen
Sep 20, 2023 2:15 PM EDT

2024 could be a brutal for the real estate sector.

My Top Pick for the Rest of 2023? Go Back to the Office and Get Paid for It

Peter Tchir
Sep 11, 2023 3:10 PM EDT

Here's why I want exposure to commercial real estate.

Country Garden Fends Off Default as China Property Stocks Spark to Life

Alex Frew McMillan
Sep 6, 2023 10:26 AM EDT

China's largest developer is fighting for life but its efforts have prompted a rally in distressed debt and Hong Kong property stocks.

China's Shadow-Banking System Thrust Into Spotlight

Alex Frew McMillan
Aug 16, 2023 8:10 AM EDT

One of the largest asset managers in China's informal private-equity sector appears to have run aground, ceasing payments on its products.

These 3 Firms Are Riding the Ripples Caused by the Shift in the Workforce

Bret Jensen
Aug 4, 2023 11:30 AM EDT

I expect office values to continue to implode thanks to the workplace revolution.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • 09:07 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The Most Common and Costly Mistake in Investing
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login