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Essex Property Trust Inc (ESS) |
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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 climbed 0.60 points, or 0.29%, and closed at 210.38 on Friday, May 26, 2023. Weekly volume was -21% below average.
 Long-term trend: [See ESS long-term trend chart]
A long-term uptrend had started on February 20, 2009 at 49.19 and reached 363.36 on April 21, 2022. ESS gained -314.17 points, or -638.69%, in 686 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (214.41) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.
 Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 195.03 and reached 224.00 on May 1, 2023. ESS gained -28.97 points, or -14.85%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (215.61) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ESS may retest the broken support line. It is considered to be a resistance 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 support 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 December 23, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 May 1, 2023 at 224.00 and reached 204.56 on May 26, 2023. ESS lost 19.44 points, or 8.68%, in 25 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish 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 bullish 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 daily MACD line is below its signal line since May 12, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (211.2) comes close to the price (210.38). It indicates that the trend is getting weaker. 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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