Essex Property Trust Scores Relative Strength Rating Upgrade; Hits Key Threshold

When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Essex Property Trust (ESS) now meets that criteria, with a jump from 78 to 81 Wednesday.


When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This unique rating tracks market leadership by showing how a stock’s price movement over the last 52 weeks measures up against that of other stocks on the major indexes.

Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.

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Essex Property Trust broke out earlier, but is now about 4% below the prior 336.85 entry from a flat base. If a stock you’re tracking breaks past a buy point then declines 7% or more below the original entry price, it’s considered a failed base. It’s best to wait for the stock to form a new base and breakout. Also understand that the latest pattern is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.

Although earnings and sales growth came in at -4% and -5%, respectively, in the latest report, that shows two quarters of improvement for EPS and one for sales.

The company holds the No. 67 rank among its peers in the Finance-Property REITs industry group. Power REIT (PW) and Extra Space Storage (EXR) are also among the group’s highest-rated stocks.


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