The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 8
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/10/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Lane's Stochastic is strongly overbought
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It was a third consecutive positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 8.64 points, or 3.45%, and closed at 258.95 on Friday, May 10, 2024. Weekly volume was -42% 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 259.83 on May 10, 2024. ESS gained -64.80 points, or -33.23%, in 59 weeks. Price is near the trend high.

Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 203.85 and reached 259.83 on May 10, 2024. ESS gained -55.98 points, or -27.46%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (235.62) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 above its signal line since April 19, 2024. This is an indication that the medium-term trend is up. 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 April 18, 2024 at 230.90 and reached 259.83 on May 10, 2024. ESS gained -28.93 points, or -12.53%, in 22 days. Price is near the trend high.

Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. 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 April 23, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.53
Williams' Percentage Range (W%R) 50.00
Lane's Stochastic (%D-Slow) 94.15
Strong Overbought
Greed/Fear Indicator (GFI) 74.23
Moving Average Converg./Diverg. (MACD) 3.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.87
Williams' Percentage Range (W%R) 50.00
Lane's Stochastic (%D-Slow) 74.99
Greed/Fear Indicator (GFI) 61.50
Moving Average Converg./Diverg. (MACD) 3.58
Trading Signals
Description Value Chart
Upper Bollinger Band 265.97
Price 258.95
Daily Stochastic Crossing 258.47
Weekly Stochastic Crossing 252.21
Monthly Trendline Resistance 248.70
Parabolic System 248.22
20 Day Moving Average 246.00
50 Day Moving Average 242.89
Monthly Trendline Support 235.62
Lower Bollinger Band 231.66
Sector and Industry
Description Name Rank
Sector Real Estate 5
Industry REIT - Residential 110
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 230.90
Low Date 04/18/2024
High 259.83
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 223.06
Low Date 02/13/2024
High 259.83
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 248.70
Support 235.62
Low 203.85
Low Date 10/27/2023
High 259.83
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 195.03
Low Date 03/24/2023
High 259.83
High Date 05/10/2024
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.