The Greedy Trader Weekly Analysis
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Daily D%-Slow:> 80
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Lane's Stochastic (%D-Slow)

The Lane's Stochastic indicator developed by George Lane is one of the most useful and widely used momentum oscillators in technical analysis. Lane's Stochastic oscillator uses four indicators to combine relative strength with moving average methods. %K is an un-smoothed RSI. %D is a moving average of %K (fast stochastic). %D-Slow is a longer term moving average of %K, and finally %D-Slow (slow stochastic) Moving Avg. is another moving average. Like other overbought oversold oscillators, they are normalized within a scale of 0 to 100. Buy/sell signals are generated by %D stochastic crossover with its moving average above 80%, for overvalued, or below 20%, for undervalued stocks. The divergence between price and indicator is the most important buy/sell stocks trading signal. Lane's Stochastic bullish divergence/bearish divergence should be considered together with other stock market trading alerts, trading indicator and technical trading techniques.

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- 3/15/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis

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Summary:
Weekly :
Daily :Stochastic has declined below the signal lineBullish Piercing Line CandlestickPrice is close to the 50 Day Moving Average
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It was the negative week for the Essex Property Trust Inc (ESS). During the week, the ESS dropped -6.37 points, or -2.60%, and closed at 239.07 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -24% below average.

Long-term trend: [See ESS long-term trend chart]
A long-term uptrend had started on March 24, 2023 at 195.03 and reached 252.85 on December 28, 2023. ESS gained -57.82 points, or -29.65%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 207.85 and resistance is at 255.97. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 223.06 and reached 247.61 on March 11, 2024. ESS gained -24.55 points, or -11.01%, in 3 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 229.49 and resistance is at 250.88. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See ESS short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 247.61 and reached 234.64 on March 14, 2024. ESS lost 12.97 points, or 5.24%, in 3 days. The price is now at the 34.16% retracement level.

Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 28, 2024. The distance between MACD and the signal line is low and getting smaller.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See ESS candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.71
Williams' Percentage Range (W%R) 56.60
Lane's Stochastic (%D-Slow) 56.32
Greed/Fear Indicator (GFI) 56.13
Moving Average Converg./Diverg. (MACD) 1.50
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.52
Williams' Percentage Range (W%R) 36.40
Lane's Stochastic (%D-Slow) 41.69
Greed/Fear Indicator (GFI) 51.00
Moving Average Converg./Diverg. (MACD) 2.70
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 255.97
Weekly Trendline Resistance 250.88
Upper Bollinger Band 249.85
Daily Stochastic Crossing 241.23
Price 239.07
50 Day Moving Average 237.27
20 Day Moving Average 236.55
Parabolic System 235.26
Weekly Stochastic Crossing 234.44
Weekly Trendline Support 229.49
Lower Bollinger Band 225.80
Quarterly Trendline Support 207.85
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry REIT - Residential 34
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 247.61
High Date 03/11/2024
Low 234.64
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 250.88
Support 229.49
Low 223.06
Low Date 02/13/2024
High 247.61
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 252.85
High Date 12/28/2023
Low 223.06
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 255.97
Support 207.85
Low 195.03
Low Date 03/24/2023
High 252.85
High Date 12/28/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 334.17
High Date 10/22/2019
Low 195.03
Low Date 03/24/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.