EXR climbs to highest close since February 18th

Extra Space Storage Inc (EXR) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team


EXR rises to highest close since February 18th
EXR closes within previous day's range


EXR ended Wednesday at 112.29 gaining $1.14 (1.03%) on high volume, strongly outperforming the S&P 500 (-0.46%). Today's close at 112.29 marks the highest recorded closing price since February 18th. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.

Daily Candlestick Chart (EXR as at Sep 16, 2020):

Daily technical analysis candlestick chart for Extra Space Storage Inc (EXR) as at Sep 16, 2020

Wednesday's trading range has been $2.12 (1.9%), that's slightly below the last trading month's daily average range of $2.13. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EXR.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Selling could speed up should prices move below the close-by swing low at 110.32 where further sell stops might get activated. With prices trading close to this year's high at 115.81, upside momentum could accelerate should the market be able to break out to new highs for the year.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing Low" stand out. While it is usually interpreted as neutral, it has actually shown to be bullish for Extra Space. Out of 617 times, EXR closed higher 55.27% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 61.59% with an average market move of 1.06%.

Market Conditions for EXR as at Sep 16, 2020

Loading Market Conditions for EXR (Extra Space Storage Inc)...
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