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Essex Property Falls 5.64% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Essex Property (NYSE:ESS) traded in a range yesterday that spanned from a low of $228.01 to a high of $243.33. Yesterday, the shares fell 5.6%, which took the trading range below the 3-day low of $237.77 on volume of 181,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Essex Property and will alert subscribers who have ESS in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Essex Property has traded in a range of $175.81 to $333.92 and is now at $232.68, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 0.3%.

Keywords: rebounders essex property

Ticker(s): ESS