Essex Property Trust Inc stock price down 1.1% on Friday
(Updated on Jan 21, 2022)
Hold candidate since 2022-01-20 Loss -1.10% PDF
The Essex Property Trust Inc stock price fell by -1.10% on the last day (Friday, 21st Jan 2022) from $335.78 to $332.08. and has now fallen 7 days in a row. During the day the stock fluctuated 2.55% from a day low at $331.37 to a day high of $339.81. The price has fallen in 7 of the last 10 days and is down by -4.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 304 thousand shares were bought and sold for approximately $101.00 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $331.88 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Essex Property Trust Inc stock with a 90% probability to be traded between $338.05 and $368.12 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Signals & Forecast
There are few to no technical positive signals at the moment. The Essex Property Trust Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $341.56 and $345.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, January 04, 2022, and so far it has fallen -6.88%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Essex Property Trust Inc finds support from accumulated volume at $331.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $8.44 between high and low, or 2.55%. For the last week the stock has had a daily average volatility of 2.46%.
Essex Property Trust Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $313.41 (-5.62%) (This stock has low daily movements and this gives low risk. Low RSI14 is 24 which reduces the risk some. There is a sell signal from a pivot top found 12 days ago.)
Is Essex Property Trust Inc stock A Buy?
Essex Property Trust Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.303Hold/Accumulate Unchanged
Insiders are positive buying more shares than they are selling in Essex Property Trust Inc
In the last 100 trades there were 566.51 thousand shares bought and 279.78 thousand shares sold. The last trade was done 32 days ago by Marcus George M who sold 13.44 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.
Predicted Opening Price for Essex Property Trust Inc of Monday, January 24, 2022
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price January 24, 2022||Current price|
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On Jan 20, 2022 "Mizuho" gave "$360.00 - $382.00" rating for ESS. The price target was set to $342.90+1.0%.
ESS Insider Trading
|Dec 21, 2021||Sell||13 436||Marcus George M||Stock Option (Right to Purchase)|
|Dec 21, 2021||Buy||13 436||Marcus George M||Common Stock|
|Dec 21, 2021||Buy||8 012||Marcus George M||Common Stock|
|Dec 21, 2021||Buy||7 000||Marcus George M||Common Stock|
|Dec 21, 2021||Buy||3 265||Marcus George M||Common Stock|
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