PSA closes within previous day's range after lackluster session

Public Storage (PSA) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


PSA fails to close above 20-day moving average
PSA closes within previous day's range after lackluster session


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 Candlestick Chart (PSA as at Apr 16, 2018):

Daily technical analysis candlestick chart for Public Storage (PSA) as at Apr 16, 2018

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.

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.

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

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

Market Conditions for PSA as at Apr 16, 2018

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