Essex Property Trust Inc Stock Forecast
Essex Property Trust Inc stock downgraded to Sell Candidate
(Updated on Apr 25, 2024)
The Essex Property Trust Inc stock price fell by -0.214% on the last day (Thursday, 25th Apr 2024) from $247.74 to $247.21. During the last trading day the stock fluctuated 1.24% from a day low at $244.49 to a day high of $247.52. The price has been going up and down for this period, and there has been a 1.21% gain for the last 2 weeks. Volume has increased on the last day by 68 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 457 thousand shares were bought and sold for approximately $112.95 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.38% during the next 3 months and, with a 90% probability hold a price between $243.90 and $262.65 at the end of this 3-month period.
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ESS Signals & Forecast
The Essex Property Trust Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $239.83 and $240.23. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.214%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Essex Property Trust Inc stock
Essex Property Trust Inc finds support from accumulated volume at $244.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.03 (1.24%) between high and low. For the last week, the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ESS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Essex Property Trust Inc to open at $246.41, and during the day (based on 14 day Average True Range), to move between $242.06 and $252.36, which gives a possible trading interval of +/-$5.15 (+/-2.09%) up or down from last closing price. If Essex Property Trust Inc takes out the full calculated possible swing range there will be an estimated 4.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $247.74 (0.21%) than the support at $244.01 (1.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Essex Property Trust Inc will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.74. We will update the financials statements for Essex Property Trust Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.50% in the first trading day after earnings release.
Is Essex Property Trust Inc stock A Buy?
The Essex Property Trust Inc stock holds several negative signals and despite the positive trend, we believe Essex Property Trust Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.118 Sell Candidate Downgraded
Predicted Opening Price for Essex Property Trust Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $246.41 ( 0.325%) | $247.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ESS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 249.44 | 0.90 % | |
| R2 | 248.28 | 0.433 % | ||
| R1 | 247.56 | 0.143 % | ||
| Current price: | 247.21 | |||
| Support | S1 | 245.25 | -0.793 % | |
| S2 | 244.53 | -1.08 % | ||
| S3 | 243.38 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 249.59 | 0.96 % | ||
| R1 | 247.74 | 0.214 % | ||
| Current price | 247.21 | |||
| Support | S1 | 244.01 | -1.29% | |
| S2 | 237.60 | -3.89% | ||
| S3 | 229.34 | -7.23% |
ESS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Apr 12, 2024 | $2.45 | 1.02% |
| 2 | Dec 08, 2023 | Dec 29, 2023 | Jan 12, 2024 | $2.31 | 0.93% |
| 3 | Sep 07, 2023 | Sep 28, 2023 | Oct 13, 2023 | $2.31 | 1.05% |
| 4 | May 12, 2023 | Jun 29, 2023 | Jul 14, 2023 | $2.31 | 0.94% |
| 5 | Feb 23, 2023 | Mar 30, 2023 | Apr 14, 2023 | $2.31 | 1.11% |
FAQ
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