So, let's see how things look going forward for this company that, according to their website, "supports the data center, colocation and interconnection strategies of customers across the world, ranging from cloud and information technology services, communications and social networking, to financial services, manufacturing, energy, healthcare and consumer product."
In the daily Japanese candlestick chart of DLR, below, we can see that there are a number of interesting (read bullish) developments.
Prices only broke the late February and early March lows for two days before bouncing back strongly. The two days are actually a bullish reversal pattern called a harami. DLR is back above the rising 50-day moving average line as well as the rising 200-day moving average line. A breakout over the March high could happen soon.
The On-Balance-Volume (OBV) line shows a bullish rise from the middle of December. The Moving Average Convergence Divergence (MACD) oscillator is back above the zero line with an outright go long message for traders.
In the weekly bar chart of DLR, below, we can see why this stock has been a top performer so far this year. Prices are above the rising 40-week moving average line.
The weekly OBV line is bullish and so is the MACD oscillator.
In this daily Point and Figure chart of DLR, below, we can see a potential upside price target of $211. A trade at $143.60 will be a short-term breakout and refresh the uptrend.
Bottom-line strategy: It is interesting what a scan of data can reveal. I would have never thought of this company as a "top performer." Traders looking for a long idea can look to buy DLR around $125 and add above $145. Risk below $125. The $210 area is our price objective.