When asked about growth, Stein said his company's market cap was $15 billion in 2016 but tops $40 billion today. Stein said demand for data centers has increased during the pandemic as companies are forced to accelerate their digital transformations.
Let's check out the charts of DLR.
In the daily bar chart of DLR, below, we can see that prices only briefly broke the December low. The trade happened but trading volume was light so I want to take the break with a grain of salt.
Prices rebounded so quickly and there was a bullish divergence between prices making a new low but the On-Balance-Volume (OBV) line did not confirm the weakness. Prices and the OBV line are both at new highs with a rising 50-day and 200-day moving average.
The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In the weekly bar chart of DLR, below, we can see that prices have broken out on the upside from a lengthy consolidation pattern. We can also see a rough uptrend from early 2018.
The indicators all have a bullish alignment -- rising 40-week moving average line, rising OBV line and bullish MACD oscillator.
In this Point and Figure chart of DLR, we used daily price data. Here the chart is projecting a potential upside price target of $170.
Bottom-line strategy: DLR can trade higher in the weeks ahead. Traders could go long around current levels risking a close below $140 for now. The $170 area is our price target.