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After Yesterday's Decline of 1.37%, Essex Property Offers Investors Better Value

By Shiri Gupta

Essex Property (NYSE:ESS) traded in a range yesterday that spanned from a low of $243.23 to a high of $249.21. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $247.62 on volume of 183,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Essex Property on July 31st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $238.10. Since that recommendation, shares of Essex Property have risen 4.3%. We continue to monitor ESS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Essex Property has traded in a range of $214.03 to $270.04 and is now at $244.52, 14% above that low. The 200-day and 50-day moving averages have moved 0.01% lower and 0.41% higher over the past week, respectively.

Keywords: rebounders essex property

Ticker(s): ESS