EASTGROUP PROPERTIES INC (EGP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:EGP - US2772761019 - REIT
Overall EGP gets a technical rating of 7 out of 10. Although EGP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- EGP is part of the Diversified REITs industry. There are 125 other stocks in this industry. EGP outperforms 70% of them.
- EGP is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month EGP has a been trading in the 176.70 - 188.44 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the performance of all stocks over the past year, EGP turns out to be only a medium performer in the overall market: it outperformed 67% of all stocks.
Besides having an excellent technical rating, EGP also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 187.97. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 184.12, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EGP in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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154.36
When analyzing the support we can see 5 important areas.
- A support zone ranging from 177.81 to 184.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 173.08 to 174.03. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 168.39 to 169.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @161.09 from a horizontal line in the weekly time frame.
- Support @155.92 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 187.97 to 188.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for EGP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for EGP is up. |
| ChartMill Relative Strength | 67.89 | NEUTRAL | EGP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of EGP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of EGP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of EGP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.69 | NEUTRAL | The RSI value for EGP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.56 | POSITIVE | The MACD value suggests EGP has a positive trend. |
| Stochastics (14,3) | 93.67 | OVERBOUGHT | The high Stochastics value suggests EGP may be overbought. |
| Average True Range in percent/ATR (20) | 1.54 | LOW VOLATILITY | The low ATR as a percentage value for EGP suggests low volalility. |
| Average Directional Index/ADX (14) | 17.82 | NEGATIVE | The low ADX value for EGP suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 188.24 | 177.34 | 10.90 (5.79%) | 17.27% |
| An entry @188.24. This is a Buy Stop order right above the resistance zone. | An exit @177.34. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 10.90 points, which is 5.79%. | When investing 17.27% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
187.96
+1.5 (+0.8%)
EASTGROUP PROPERTIES INC / EGP FAQ
What is the technical rating for EGP stock?
ChartMill assigns a technical rating of 7 / 10 to EGP.
What is the current trend direction of EASTGROUP PROPERTIES INC (EGP) stock?
The current trend direction for EASTGROUP PROPERTIES INC (EGP) is Bullish.
What is the RSI signal for EGP stock?
EASTGROUP PROPERTIES INC (EGP) has an RSI value of 68.6913. This indicates that the stock is currently neutral.
Can you provide the short term momentum for EASTGROUP PROPERTIES INC?
The short term momentum for EASTGROUP PROPERTIES INC (EGP) is positive.
What is the support and resistance level for EGP stock?
EASTGROUP PROPERTIES INC (EGP) has a support level at 184.12 and a resistance level at 187.97. Check the full technical report for our detailed analysis of EGP support and resistance levels.