ESSA BANCORP INC (ESSA) Stock Technical Analysis
NASDAQ:ESSA - Nasdaq - US29667D1046 - Common Stock - Currency: USD
We assign a technical rating of 7 out of 10 to ESSA. In the last year, ESSA was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
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 however is currently trading near a new high, so ESSA is lagging the market slightly.
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 56% of them, which is more or less in line with the market.
ESSA is part of the Banks industry. There are 393 other stocks in this industry, ESSA did better than 55% of them.
ESSA has an excellent technical rating and 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
17.54
20.99
When analyzing the support we can see 4 important 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.
We found 1 important resistance 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.
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 | 56.42 | 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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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.
20.61
+0.51 (+2.54%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg2.54%
1 Week1.78%
2 Weeks0.39%
1 Month7.79%
3 Month12.38%
6 Month-1.15%
12 Month2.13%
2 Year24.01%
3 Year15.53%
5 Year63.57%
10 Year60.39%
15 Year62.03%
Volatility
ATR(14)0.57
ATR(20)%2.69%
ATR Inc27.59%
Range Today0.87
ADR(20)0.53
ADR(20)%2.56%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS56.42
Mansfield-0.13
10 Day High21.07
10 Day Low19.58
20 Day High21.07
20 Day Low18.9
52 Week High22.22
52 Week Low15.82
CS1 End20.59
CR1 Start20.74
Volume & EV
DER(3)-1.26%
DER(5)-1.29%
Volume346.80K
Volume Incr127.58%
Vol(5)151.84K
Vol(50)55.23K