Public Storage Stock Forecast
Weaker technical forecast for Public Storage as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Public Storage stock price gained 0.693% on the last trading day (Friday, 3rd May 2024), rising from $263.93 to $265.76. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.95% from a day low at $264.63 to a day high of $269.79. The price has risen in 6 of the last 10 days and is up by 2.07% over the past 2 weeks. Volume fell on the last day by -258 thousand shares and in total, 648 thousand shares were bought and sold for approximately $172.18 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.28% during the next 3 months and, with a 90% probability hold a price between $237.29 and $265.93 at the end of this 3-month period.
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PSA Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 3.12%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Public Storage stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $272.77. On a fall, the stock will find some support from the short-term average at $261.23. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Public Storage stock
Public Storage finds support from accumulated volume at $263.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.16 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSA) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Public Storage to open at $266.73, and during the day (based on 14 day Average True Range), to move between $259.86 and $271.66, which gives a possible trading interval of +/-$5.90 (+/-2.22%) up or down from last closing price. If Public Storage takes out the full calculated possible swing range there will be an estimated 4.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $263.93 (0.69%) than the resistance at $280.29 (5.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Public Storage stock A Buy?
Public Storage holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.077 Sell Candidate Downgraded
Predicted Opening Price for Public Storage of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $266.73 ( 0.364%) | $265.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 271.89 | 2.31 % | |
| R2 | 269.92 | 1.56 % | ||
| R1 | 268.70 | 1.11 % | ||
| Current price: | 265.76 | |||
| Support | S1 | 264.76 | -0.378 % | |
| S2 | 263.54 | -0.84 % | ||
| S3 | 261.57 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 288.62 | 8.60 % | |
| R2 | 284.12 | 6.91 % | ||
| R1 | 280.29 | 5.47 % | ||
| Current price | 265.76 | |||
| Support | S1 | 263.93 | -0.689% | |
| S2 | 262.22 | -1.33% | ||
| S3 | 260.15 | -2.11% |
PSA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Mar 12, 2024 | Mar 28, 2024 | $3.00 | 1.03% |
| 2 | Nov 08, 2023 | Dec 12, 2023 | Dec 28, 2023 | $3.00 | 0.97% |
| 3 | Aug 02, 2023 | Sep 12, 2023 | Sep 28, 2023 | $3.00 | 1.14% |
| 4 | May 02, 2023 | Jun 13, 2023 | Jun 29, 2023 | $3.00 | 1.04% |
| 5 | Feb 05, 2023 | Mar 14, 2023 | Mar 30, 2023 | $3.00 | 1.02% |
FAQ
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