PSA breaks below 200-day moving average

Public Storage (PSA) Technical Analysis Report for Sep 14, 2018

Highlights

PSA breaks below 200-day moving average
PSA breaks below previous session low
PSA falls to lowest close since May 22nd

TQ Sentiment

Report Sentiment: 66% Bearish
Technical Forecast:

Overview

PSA ended the week -1.21% lower at 206.58 after losing $3.34 (-1.59%) today. Today's closing price of 206.58 marks the lowest close since May 22nd. Closing below Thursday's low at 209.45, the share confirms its breakout through the previous session's low having traded $4.04 below it intraday.

Daily chart for PSA

Volatility

Friday's trading range was $4.08 (1.95%), that's above last trading month's daily average range of $2.98. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already. The stock broke below the 200-day moving average at 206.95 today for the first time since May 18th.

Order Flow

Further selling could move prices lower should the market test August's close-by low at 201.05.

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 Public Storage

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Latest Report:

PSA ends the day indecisive

Sep 21, 2018
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