The Greedy Trader Weekly Analysis
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Quarterly Pattern:Descending Triangle
Number of records: 4
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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 and Lane's Stochastic are overboughtStochastic has declined below the signal lineBroken trend resistance lineTrend support at 247.56
Daily :Daily  MACD line has moved below its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the Essex Property Trust Inc (ESS). During the week, the ESS climbed 0.17 points, or 0.07%, and closed at 246.31 on Friday, September 14, 2018. ESS was trading at average weekly trading volume.

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 (247.56) 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 downtrend had started on September 11, 2017 at 270.04 and reached 214.03 on February 6, 2018. ESS lost 56.01 points, or 20.74%, in 21 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (240.30) 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 March 16, 2018. 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 24, 2018 at 227.05 and reached 250.94 on September 11, 2018. ESS gained -23.89 points, or -10.52%, in 49 days. The chart has formed a Rising Wedge chart pattern.

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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.50
Williams' Percentage Range (W%R) 35.60
Lane's Stochastic (%D-Slow) 74.04
Greed/Fear Indicator (GFI) 64.63
Moving Average Converg./Diverg. (MACD) 2.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.16
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 84.12
Overbought
Greed/Fear Indicator (GFI) 74.87
Moving Average Converg./Diverg. (MACD) -0.20
Trading Signals
Description Value Chart
Yearly Trendline Resistance 278.83
Upper Bollinger Band 250.04
Weekly Stochastic Crossing 248.39
Daily Stochastic Crossing 248.21
Yearly Trendline Support 247.56
Price 246.31
20 Day Moving Average 245.46
Parabolic System 242.95
Monthly Trendline Support 241.02
50 Day Moving Average 240.43
Lower Bollinger Band 240.30
Quarterly Trendline Support 240.30
Monthly Trendline Resistance 240.12
Quarterly Trendline Resistance 231.28
Sector and Industry
Description Name Rank
Sector Financial 3
Industry REIT - Residential 149
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 227.05
Low Date 07/24/2018
High 250.94
High Date 09/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 226.22
Low Date 05/18/2018
High 250.94
High Date 09/11/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 240.12
Support 241.02
Low 214.03
Low Date 02/06/2018
High 250.94
High Date 09/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 231.28
Support 240.30
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 278.83
Support 247.56
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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