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Advanced TA SearchArchive
- 4/5/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Essex Property Trust Inc (ESS). During the week, the ESS dropped -7.13 points, or -2.91%, and closed at 237.68 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -38% below average.
ESS is a member of Real Estate Sector. Real Estate is the second most oversold 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 252.85 on December 28, 2023. ESS gained -57.82 points, or -29.65%, in 39 weeks. The price is now at the 26.24% retracement level.
 Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 203.85 and reached 252.85 on December 28, 2023. ESS gained -49.00 points, or -24.04%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 232.53 and resistance is at 245.69. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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 March 1, 2024. 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 March 11, 2024 at 247.61 and reached 233.08 on April 3, 2024. ESS lost 14.53 points, or 5.87%, in 23 days. The price is now at the 31.66% retracement level.
Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.95%) is close to one year low (4.74%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
Price is close to the 50 Day Moving Average. 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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