The Greedy Trader Weekly Analysis
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Daily W%R:< 20
Number of records: 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/22/2024 -
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Essex Property Trust Inc (ESS) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Williams' Percentage Range is overboughtThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a first positive week for the Essex Property Trust Inc (ESS). During the week, the ESS gained 2.92 points, or 1.22%, and closed at 241.99 on Friday, March 22, 2024. Weekly volume was -28% below average.

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 18.78% retracement level.

Medium-term trend: [See ESS medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 223.06 and reached 247.61 on March 11, 2024. ESS gained -24.55 points, or -11.01%, in 3 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 230.96 and resistance is at 254.97. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

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 1, 2024. 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 March 11, 2024 at 247.61 and reached 234.36 on March 20, 2024. ESS lost 13.25 points, or 5.35%, in 9 days. The price is now at the 57.58% retracement level.

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

The daily MACD line is above its signal line since March 20, 2024. The distance between MACD and the signal line is low and getting smaller.

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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 47.40
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 45.61
Greed/Fear Indicator (GFI) 59.49
Moving Average Converg./Diverg. (MACD) 1.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.89
Williams' Percentage Range (W%R) 17.60
Overbought
Lane's Stochastic (%D-Slow) 50.37
Greed/Fear Indicator (GFI) 60.38
Moving Average Converg./Diverg. (MACD) 2.83
Trading Signals
Description Value Chart
Weekly Trendline Resistance 254.97
Upper Bollinger Band 250.16
Parabolic System 246.30
Price 241.99
Daily Stochastic Crossing 239.72
20 Day Moving Average 238.43
50 Day Moving Average 236.65
Weekly Stochastic Crossing 236.56
Weekly Trendline Support 230.96
Lower Bollinger Band 227.44
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry REIT - Residential 46
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 247.61
High Date 03/11/2024
Low 234.36
Low Date 03/20/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 254.97
Support 230.96
Low 223.06
Low Date 02/13/2024
High 247.61
High Date 03/11/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 203.85
Low Date 10/27/2023
High 252.85
High Date 12/28/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 195.03
Low Date 03/24/2023
High 252.85
High Date 12/28/2023
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.