ESSA BANCORP INC (ESSA) Technical Analysis
NASDAQ:ESSA • US29667D1046
Current stock price
ESSA Technical Rating and Analysis
We assign a technical rating of 7 out of 10 to ESSA. ESSA has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
- Both the short term and long term trends are positive. This is a very positive sign.
- ESSA is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ESSA is performing more or less in line with the market.
- ESSA is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- When compared to the yearly performance of all other stocks, ESSA outperforms 61% of them, which is more or less in line with the market.
- ESSA is an average performer in the Banks industry, it outperforms 48% of 380 stocks in the same industry.
ESSA Weekly and Daily overview Charts
ESSA Setup Rating and Analysis
Besides having an excellent technical rating, ESSA also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 20.74. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.59, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- 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.
More info and screens
ESSA Support and Resistance Analysis
17.54
We found 4 important support areas.
- A support zone ranging from 20.16 to 20.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @18.61 from a trend line in the daily time frame.
- A support zone ranging from 18.11 to 18.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @17.72 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 20.74 to 20.78. This zone is formed by a combination of multiple trend lines in the daily time frame.
ESSA Technical Indicator Signal Analysis
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 ESSA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ESSA is up. |
| ChartMill Relative Strength | 61.2 | NEUTRAL | ESSA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ESSA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ESSA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ESSA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.86 | NEUTRAL | The RSI value for ESSA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests ESSA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 54.93 | NEUTRAL | The Stochastics value for ESSA is a neutral value. |
| Average True Range in percent/ATR (20) | 2.69 | MEDIUM VOLATILITY | The ATR as a percentage value for ESSA suggests some volalility. |
| Average Directional Index/ADX (14) | 36.11 | POSITIVE | The high ADX value value for ESSA suggests a strong trend. |
ESSA Chart- and CandleStick Pattern Analysis
ESSA Example Setup
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 |
|---|---|---|---|
| 20.79 | 20.15 | 0.64 (3.08%) | 25.00% |
| An entry @20.79. This is a Buy Stop order right above the resistance zone. | An exit @20.15. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.64 points, which is 3.08%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.77%. |
- The distance between exit and entry is rather small compared to the average daily movement of ESSA. Please evaluate whether better entry and exit points can be found.
- 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.
ESSA Technicals: Chart, Performance Metrics, Trend & Indicators
20.61
+0.51 (+2.54%)
ESSA BANCORP INC / ESSA TA FAQ
What is the ChartMill technical rating of ESSA BANCORP INC (ESSA) stock?
ChartMill assigns a technical rating of 7 / 10 to ESSA.
What is the current trend direction of ESSA BANCORP INC (ESSA) stock?
The current trend direction for ESSA BANCORP INC (ESSA) is Bullish.
Can you provide the RSI signal for ESSA BANCORP INC?
ESSA BANCORP INC (ESSA) has an RSI value of 60.8595. This indicates that the stock is currently neutral.
What is the buy/sell signal for ESSA stock?
The buy/sell signal for ESSA BANCORP INC (ESSA) is buy as both the short term and long term trends are positive.
What is the support and resistance level for ESSA stock?
ESSA BANCORP INC (ESSA) has a support level at 20.59 and a resistance level at 20.74. Check the full technical report for our detailed analysis of ESSA support and resistance levels.