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Quarterly Pattern:Descending Triangle
Number of records: 5
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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 :Broken trend support lineOversold industryBroken trend resistance lineLane's Stochastic is oversold
Daily :
Move cursor over the icon to see details.

It was a second consecutive positive week for the Essex Property Trust Inc (ESS). During the week, the ESS climbed 1.73 points, or 0.76%, and closed at 229.67 on Friday, February 16, 2018. Weekly volume was 44% above average.

ESS is a member of REIT - Residential Industry. REIT - Residential is the fifth most oversold industry. 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 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 uptrend support line (237.35) is broken. A broken support is considered to be a long-term bearish signal. 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 long-term trend.

Medium-term trend: [See ESS medium-term trend chart]
A medium-term downtrend had started on November 1, 2017 at 264.07 and reached 214.03 on February 6, 2018. ESS lost 50.04 points, or 18.95%, in 13 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (214.49) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is below its signal line since August 4, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 6, 2018 at 214.03 and reached 230.80 on February 16, 2018. ESS gained -16.77 points, or -7.84%, in 10 days. The price is now at the 6.74% retracement level.

Daily Technical Indicators: [See ESS daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 8, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.24
Williams' Percentage Range (W%R) 24.80
Lane's Stochastic (%D-Slow) 79.67
Greed/Fear Indicator (GFI) 69.05
Moving Average Converg./Diverg. (MACD) -3.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.67
Williams' Percentage Range (W%R) 70.20
Lane's Stochastic (%D-Slow) 18.89
Oversold
Greed/Fear Indicator (GFI) 30.15
Moving Average Converg./Diverg. (MACD) -4.26
Trading Signals
Description Value Chart
Yearly Trendline Resistance 271.27
Yearly Trendline Support 237.35
Upper Bollinger Band 236.86
50 Day Moving Average 234.16
Price 229.67
Daily Stochastic Crossing 228.24
20 Day Moving Average 226.60
Weekly Stochastic Crossing 221.11
Monthly Trendline Resistance 220.36
Parabolic System 219.82
Lower Bollinger Band 218.16
Monthly Trendline Support 214.49
Sector and Industry
Description Name Rank
Sector Financial 3
Industry REIT - Residential 5
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 221.26
Low Date 02/12/2018
High 230.80
High Date 02/16/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 214.03
Low Date 02/06/2018
High 230.80
High Date 02/16/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 220.36
Support 214.49
High 264.07
High Date 11/01/2017
Low 214.03
Low Date 02/06/2018
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 Broken Support
Resistance 271.27
Support 237.35
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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