The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support 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. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

Archive
- 2/16/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis

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Summary:
Weekly :
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 4 consecutive negative weeks for the Essex Property Trust Inc (ESS). During the week, the ESS gained 5.57 points, or 2.42%, and closed at 235.37 on Friday, February 16, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -11% below average.

Long-term trend: [See ESS long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 363.36 and reached 195.03 on March 24, 2023. ESS lost 168.33 points, or 46.33%, in 48 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 210.95 and resistance is at 254.31. 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 long-term trend.

Medium-term trend: [See ESS medium-term trend chart]
A medium-term downtrend had started on December 28, 2023 at 252.85 and reached 223.06 on February 13, 2024. ESS lost 29.79 points, or 11.78%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 220.99 and resistance is at 249.14. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern 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 8, 2023. The distance between MACD and the signal line is low and getting smaller. 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 February 13, 2024 at 223.06 and reached 236.00 on February 16, 2024. ESS gained -12.94 points, or -5.80%, in 3 days. Price is near the trend high.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.01
Williams' Percentage Range (W%R) 55.80
Lane's Stochastic (%D-Slow) 56.16
Greed/Fear Indicator (GFI) 49.45
Moving Average Converg./Diverg. (MACD) -2.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.89
Williams' Percentage Range (W%R) 42.80
Lane's Stochastic (%D-Slow) 53.37
Greed/Fear Indicator (GFI) 55.98
Moving Average Converg./Diverg. (MACD) 2.46
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 254.31
Monthly Trendline Resistance 249.14
Upper Bollinger Band 241.88
50 Day Moving Average 238.76
Weekly Stochastic Crossing 236.92
Price 235.37
20 Day Moving Average 233.47
Daily Stochastic Crossing 230.91
Lower Bollinger Band 225.77
Parabolic System 223.36
Monthly Trendline Support 220.99
Quarterly Trendline Support 210.95
Sector and Industry
Description Name Rank
Sector Real Estate 4
Industry REIT - Residential 37
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 223.06
Low Date 02/13/2024
High 236.00
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 223.06
Low Date 02/13/2024
High 236.00
High Date 02/16/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 249.14
Support 220.99
High 252.85
High Date 12/28/2023
Low 223.06
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rising Channel
Status Valid
Resistance 254.31
Support 210.95
High 363.36
High Date 04/21/2022
Low 195.03
Low Date 03/24/2023
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.