PSA closes within previous day's range after lackluster session


Public Storage (PSA) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
PSA fails to close above 20-day moving average
PSA closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

PSA finished Monday at 197.09 edging lower $0.19 (-0.1%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.

Daily chart for PSA
Volatility

Monday's trading range was $2.45 (1.24%), that's far below last trading month's daily average range of $3.67. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 195.76. Prices are trading close to the key resistance level at 199.00. After spiking up to 198.80 during the day, the stock found resistance at the 20-day moving average at 198.68.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Further selling could move prices lower should the market test March's nearby low at 190.90.

Conclusion

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

Market Conditions for Public Storage
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Takuri Line TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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