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Uptrend SupportArchive
- 7/19/2024 -
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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 third consecutive positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 10.46 points, or 3.81%, and closed at 284.79 on Friday, July 19, 2024. It was the best weekly gain since April 26, 2024. Weekly volume was -24% below average.
ESS is a member of Real Estate Sector. Real Estate is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ESS long-term trend chart]
A long-term uptrend had started on March 24, 2023 at 195.03 and reached 289.08 on July 18, 2024. ESS gained -94.05 points, or -48.22%, in 68 weeks. Price is near the trend high.
 Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 223.06 and reached 289.08 on July 18, 2024. ESS gained -66.02 points, or -29.60%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 275.25 and resistance is at 299.97. 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 medium-term trend.
 Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish 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 weekly Lane's Stochastic and MACD bearish 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 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 July 5, 2024 at 268.45 and reached 289.08 on July 18, 2024. ESS gained -20.63 points, or -7.68%, in 13 days. The price is now at the 20.79% retracement level.
 Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the upper Bollinger Band. 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.
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