EXR slumps -1.8% on high volume
Extra Space Storage (EXR) Technical Analysis Report for Sep 14, 2018
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.
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.
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.
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||Direction||Win Rate||Win Rate||Exit Day||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|
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