The Greedy Trader Weekly Analysis
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Essex Property Trust Inc
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Summary:
Weekly :Broken trend support lineStochastic signal line moved below overbought areaTrend resistance at 229.00
Daily :The price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Essex Property Trust Inc (ESS). During the week, the ESS dropped -3.01 points, or -1.22%, and closed at 243.70 on Friday, October 05, 2018. It was the worst weekly loss since August 10, 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 uptrend support line (248.77) 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 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 price is near the trend resistance line (229.00). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See ESS weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since March 16, 2018. The distance between MACD and the signal line is low and getting smaller. 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 September 11, 2018 at 250.94 and reached 238.29 on September 27, 2018. ESS lost 12.65 points, or 5.04%, in 16 days. The chart has formed a Broadening Descending Wedge chart pattern.

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

The daily MACD line is below its signal line since September 13, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.48
Williams' Percentage Range (W%R) 58.00
Lane's Stochastic (%D-Slow) 59.37
Greed/Fear Indicator (GFI) 48.94
Moving Average Converg./Diverg. (MACD) 0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.15
Williams' Percentage Range (W%R) 29.70
Lane's Stochastic (%D-Slow) 75.86
Greed/Fear Indicator (GFI) 65.54
Moving Average Converg./Diverg. (MACD) 0.70
Trading Signals
Description Value Chart
Yearly Trendline Resistance 280.04
Upper Bollinger Band 249.61
Yearly Trendline Support 248.77
Weekly Stochastic Crossing 246.68
20 Day Moving Average 245.25
Daily Stochastic Crossing 243.86
Price 243.70
Monthly Trendline Support 243.67
50 Day Moving Average 243.05
Quarterly Trendline Support 242.87
Parabolic System 239.37
Monthly Trendline Resistance 239.17
Lower Bollinger Band 239.09
Quarterly Trendline Resistance 229.00
Sector and Industry
Description Name Rank
Sector Financial 3
Industry REIT - Residential 116
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 250.94
High Date 09/11/2018
Low 238.29
Low Date 09/27/2018
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 Test Resistance
Resistance 239.17
Support 243.67
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 Test Resistance
Resistance 229.00
Support 242.87
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 280.04
Support 248.77
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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