EXR slumps -1.8% on high volume

Extra Space Storage (EXR) Technical Analysis Report for Sep 14, 2018

Highlights

EXR tanks -1.8% on high volume
EXR dominated by bears dragging the market lower throughout the day
EXR breaks below 200-day moving average
EXR closes lower for the 2nd day in a row
EXR breaks below previous session low

TQ Sentiment

Report Sentiment: 66% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, EXR ended the week -1.91% lower at 88.41 after tanking $1.62 (-1.8%) today on high volume. This is the biggest single day loss in over a week. Today's closing price of 88.41 marks the lowest close since April 25th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 89.83, the stock confirms its breakout through the prior session's low having traded $1.83 below it intraday.

Daily chart for EXR

Volatility

Friday's trading range was $1.76 (1.96%), that's above last trading month's daily average range of $1.36. Weekly volatility is also higher, being above the markets average with the monthly volatility being way above average.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already. The share broke below the 200-day moving average at 89.83 today for the first time since February 8th.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Extra Space Storage

Condition Forecast Direction Win Rate Exit Day Events
Close near high of period TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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