Essex Property Trust Inc Stock Forecast
Essex Property Trust Inc stock price ended at $242.15 on Tuesday, after gaining 0.94%.
(Updated on Apr 23, 2024)
The Essex Property Trust Inc stock price gained 0.94% on the last trading day (Tuesday, 23rd Apr 2024), rising from $239.89 to $242.15. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.65% from a day low at $240.03 to a day high of $243.98. The price has been going up and down for this period, and there has been a -2.98% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 109 thousand more shares were traded than the day before. In total, 477 thousand shares were bought and sold for approximately $115.49 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 3.73% during the next 3 months and, with a 90% probability hold a price between $241.94 and $260.42 at the end of this 3-month period.
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ESS Signals & Forecast
Mostly positive signals in the chart today. 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 $236.02 and $239.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Essex Property Trust Inc stock
Essex Property Trust Inc finds support from accumulated volume at $237.60 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 $3.95 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $231.08 (-4.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ESS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Essex Property Trust Inc to open at $242.05, and during the day (based on 14 day Average True Range), to move between $237.18 and $247.12, which gives a possible trading interval of +/-$4.97 (+/-2.05%) 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 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $242.80 (0.27%) than the support at $237.60 (1.88%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Essex Property Trust Inc stock to perform well in the short-term.
Current score: 2.065 Buy Candidate Unchanged
Predicted Opening Price for Essex Property Trust Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $242.05 ( 0.0399%) | $242.15 |
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 | 246.00 | 1.59 % | |
| R2 | 244.49 | 0.97 % | ||
| R1 | 243.56 | 0.583 % | ||
| Current price: | 242.15 | |||
| Support | S1 | 240.54 | -0.663 % | |
| S2 | 239.61 | -1.05 % | ||
| S3 | 238.10 | -1.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 244.01 | 0.768 % | |
| R2 | 243.58 | 0.591 % | ||
| R1 | 242.80 | 0.268 % | ||
| Current price | 242.15 | |||
| Support | S1 | 237.60 | -1.88% | |
| S2 | 229.34 | -5.29% | ||
| S3 | 229.02 | -5.42% |
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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