After Yesterday's Rally of 1.79% Shares Could Potentially Pullback
Essex Property Trust (NYSE:ESS) traded in a range yesterday that spanned from a low of $230.61 to a high of $235.99. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $231.86 on volume of 153,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend is monitoring the recent change of momentum in Essex Property Trust. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Essex Property Trust in search of a potential trend change.
In the past 52 weeks, shares of Essex Property Trust have traded between a low of $191.25 and a high of $244.71 and are now at $235.64, which is 23% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
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