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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

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- 2/28/2025 -
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Essex Property Trust Inc (ESS) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtTrend resistance at 311.08
Daily :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtMACD bearish divergenceThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 16.90 points, or 5.73%, and closed at 311.60 on Friday, February 28, 2025. It was the best weekly gain since November 8, 2024. Weekly volume was 28% above 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 317.73 on September 17, 2024. ESS gained -122.70 points, or -62.91%, in 77 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 223.49 and resistance is at 345.20. 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 268.00 on January 8, 2025. ESS lost 49.73 points, or 15.65%, in 16 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (311.08). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 4, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ESS short-term trend chart]
A short-term uptrend had started on January 8, 2025 at 268.00 and reached 312.10 on February 28, 2025. ESS gained -44.10 points, or -16.46%, in 51 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (290.21) 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 short-term trend.

Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since January 13, 2025. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.39
Overbought
Williams' Percentage Range (W%R) 16.30
Overbought
Lane's Stochastic (%D-Slow) 87.71
Overbought
Greed/Fear Indicator (GFI) 84.62
Overbought
Moving Average Converg./Diverg. (MACD) 3.18 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.26
Williams' Percentage Range (W%R) 16.90
Overbought
Lane's Stochastic (%D-Slow) 58.96
Greed/Fear Indicator (GFI) 64.11
Moving Average Converg./Diverg. (MACD) 3.39
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 345.20
Price 311.60
Monthly Trendline Resistance 311.08
Daily Stochastic Crossing 309.56
Weekly Trendline Resistance 309.39
Upper Bollinger Band 308.06
Parabolic System 298.93
Weekly Stochastic Crossing 297.67
20 Day Moving Average 294.16
Weekly Trendline Support 290.21
50 Day Moving Average 286.92
Lower Bollinger Band 281.66
Monthly Trendline Support 262.13
Sector and Industry
Description Name Rank
Sector Real Estate 7
Industry REIT - Residential 94
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 285.90
Low Date 02/12/2025
High 312.10
High Date 02/28/2025
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 309.39
Support 290.21
Low 268.00
Low Date 01/08/2025
High 312.10
High Date 02/28/2025
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 311.08
Support 262.13
High 317.73
High Date 09/17/2024
Low 268.00
Low Date 01/08/2025
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 345.20
Support 223.49
Low 195.03
Low Date 03/24/2023
High 317.73
High Date 09/17/2024
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.