Essex Property Trust Inc Stock Forecast
Stronger technical forecast for Essex Property Trust Inc stock price after Friday trading.
(Updated on Apr 26, 2024)
The Essex Property Trust Inc stock price fell by -0.117% on the last day (Friday, 26th Apr 2024) from $247.21 to $246.92. During the last trading day the stock fluctuated 2.34% from a day low at $246.91 to a day high of $252.69. The price has been going up and down for this period, and there has been a 3.19% gain for the last 2 weeks. 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 -48 thousand shares and in total, 409 thousand shares were bought and sold for approximately $100.91 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 4.74% during the next 3 months and, with a 90% probability hold a price between $245.03 and $263.93 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $241.86 and $240.36. 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 -0.331%. 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 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 $5.78 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $236.95 (-4.04%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (ESS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Essex Property Trust Inc to open at $248.84, and during the day (based on 14 day Average True Range), to move between $241.72 and $252.12, which gives a possible trading interval of +/-$5.20 (+/-2.11%) 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 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $247.21 (0.12%) than the support at $244.01 (1.18%), 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 BMO 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.401 Buy Candidate Upgraded
Predicted Opening Price for Essex Property Trust Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $248.84 ( 0.778%) | $246.92 |
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 | 254.62 | 3.12 % | |
| R2 | 252.41 | 2.22 % | ||
| R1 | 251.05 | 1.67 % | ||
| Current price: | 246.92 | |||
| Support | S1 | 246.63 | -0.117 % | |
| S2 | 245.27 | -0.669 % | ||
| S3 | 243.06 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 249.59 | 1.08 % | |
| R2 | 247.74 | 0.332 % | ||
| R1 | 247.21 | 0.117 % | ||
| Current price | 246.92 | |||
| Support | S1 | 244.01 | -1.18% | |
| S2 | 237.60 | -3.77% | ||
| S3 | 229.34 | -7.12% |
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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