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Archive
- 11/8/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 27.70 points, or 10.00%, and closed at 304.70 on Friday, November 8, 2024. Weekly volume was 25% above average.
 Long-term trend: [See ESS long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 203.85 and reached 317.73 on September 17, 2024. ESS gained -113.88 points, or -55.86%, in 46 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 272.27 and resistance is at 331.43. 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 long-term trend.
 Medium-term trend: [See ESS medium-term trend chart]
A medium-term downtrend had started on September 17, 2024 at 317.73 and reached 275.60 on November 4, 2024. ESS lost 42.13 points, or 13.26%, in 6 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (272.83) is broken. A broken support is considered to be a long-term bullish signal. 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 ESS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 4, 2024. This is an indication that the medium-term trend is down. 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 October 24, 2024 at 302.27 and reached 275.60 on November 4, 2024. ESS lost 26.67 points, or 8.82%, in 11 days. The chart has formed a Broadening Descending Wedge chart pattern.
Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.
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