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Advanced TA SearchArchive
- 5/3/2024 -
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Equity Residential (EQR) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 3 consecutive negative weeks for the Equity Residential (EQR). During the week, the EQR gained 0.77 points, or 1.18%, and closed at 65.91 on Friday, May 3, 2024. Weekly volume was 21% above average.
 Long-term trend: [See EQR long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 94.32 and reached 52.57 on November 1, 2023. EQR lost 41.75 points, or 44.26%, in 79 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (50.90) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EQR may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See EQR medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 52.57 and reached 66.71 on May 3, 2024. EQR gained -14.14 points, or -26.90%, in 26 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (60.48) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See EQR weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EQR short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 59.48 and reached 66.71 on May 3, 2024. EQR gained -7.23 points, or -12.16%, in 17 days. The price is now at the 11.07% retracement level.
Daily Technical Indicators: [See EQR daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.
The daily MACD line is above its signal line since April 22, 2024. This is an indication that the short-term trend is up.
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