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After Yesterday's Rally of 1.56% Shares Could Potentially Pullback

By James Quinn

Essex Property (NYSE:ESS) traded in a range yesterday that spanned from a low of $294.58 to a high of $299.12. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $294.03 on volume of 68,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Essex Property have traded between a low of $227.05 and a high of $305.23 and are now at $298.37, which is 31% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

SmarTrend is monitoring the recent change of momentum in Essex Property. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Essex Property in search of a potential trend change.

Keywords: rebounders essex property

Ticker(s): ESS