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Essex Property Falls 1.32% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Essex Property (NYSE:ESS) traded in a range yesterday that spanned from a low of $235.15 to a high of $240.26. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $237.78 on volume of 151,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, Essex Property share prices have been bracketed by a low of $214.03 and a high of $270.04 and are now at $235.49, 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders essex property

Ticker(s): ESS