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Quarterly Pattern:Descending Triangle
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Essex Property Trust Inc
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Summary:
Weekly :Williams' Percentage Range is overboughtTrend support at 243.66
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a third consecutive positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 2.49 points, or 1.04%, and closed at 240.99 on Friday, June 08, 2018. Weekly volume was 22% above 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 270.04 on September 11, 2017. ESS gained -220.85 points, or -448.97%, in 446 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (243.66) 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 February 6, 2018 at 214.03 and reached 247.24 on April 17, 2018. ESS gained -33.21 points, or -15.52%, in 10 weeks. The price is now at the 18.82% retracement level.

Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 16, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 17, 2018 at 247.24 and reached 226.22 on May 18, 2018. ESS lost 21.02 points, or 8.50%, in 31 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 219.37 and resistance is at 244.93. 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 short-term trend.

Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 29, 2018.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.42
Williams' Percentage Range (W%R) 19.20
Overbought
Lane's Stochastic (%D-Slow) 85.51
Overbought
Greed/Fear Indicator (GFI) 78.90
Moving Average Converg./Diverg. (MACD) 0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.43
Williams' Percentage Range (W%R) 17.50
Overbought
Lane's Stochastic (%D-Slow) 54.62
Greed/Fear Indicator (GFI) 62.68
Moving Average Converg./Diverg. (MACD) -2.39
Trading Signals
Description Value Chart
Yearly Trendline Resistance 277.58
Upper Bollinger Band 248.16
Weekly Trendline Resistance 244.93
Yearly Trendline Support 243.66
Daily Stochastic Crossing 241.69
Price 240.99
50 Day Moving Average 239.22
20 Day Moving Average 236.69
Weekly Stochastic Crossing 236.41
Parabolic System 234.30
Lower Bollinger Band 228.93
Weekly Trendline Support 219.37
Sector and Industry
Description Name Rank
Sector Financial 6
Industry REIT - Residential 126
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 226.22
Low Date 05/18/2018
High 243.49
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 244.93
Support 219.37
High 247.24
High Date 04/17/2018
Low 226.22
Low Date 05/18/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 214.03
Low Date 02/06/2018
High 247.24
High Date 04/17/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 270.04
High Date 09/11/2017
Low 214.03
Low Date 02/06/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 277.58
Support 243.66
Low 49.19
Low Date 02/20/2009
High 270.04
High Date 09/11/2017
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.

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