Extra Space Storage Inc Stock Forecast
Extra Space Storage Inc stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Extra Space Storage Inc stock price gained 0.214% on the last trading day (Wednesday, 17th Apr 2024), rising from $135.81 to $136.10. During the last trading day the stock fluctuated 1.70% from a day low at $135.94 to a day high of $138.25. The price has been going up and down for this period, and there has been a -6.18% loss for the last 2 weeks. Volume fell on the last day by -265 thousand shares and in total, 839 thousand shares were bought and sold for approximately $114.23 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $135.77 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Extra Space Storage Inc stock with a 90% probability to be traded between $133.54 and $149.65 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EXR Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.214%. Further rise is indicated until a new top pivot has been found. 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 Extra Space Storage Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $141.20 and $143.55. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Extra Space Storage Inc stock
Extra Space Storage Inc finds support from accumulated volume at $135.81 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 $2.32 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: $128.23 (-5.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (EXR) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Extra Space Storage Inc to open at $136.76, and during the day (based on 14 day Average True Range), to move between $132.22 and $139.98, which gives a possible trading interval of +/-$3.88 (+/-2.85%) up or down from last closing price. If Extra Space Storage Inc takes out the full calculated possible swing range there will be an estimated 5.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $135.81 (0.21%) than the resistance at $138.29 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Extra Space Storage Inc stock A Buy?
Extra Space Storage Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.429 Hold/Accumulate Upgraded
Predicted Opening Price for Extra Space Storage Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $136.76 ( 0.486%) | $136.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 139.08 | 2.19 % | |
| R2 | 138.19 | 1.54 % | ||
| R1 | 137.65 | 1.14 % | ||
| Current price: | 136.10 | |||
| Support | S1 | 135.88 | -0.164 % | |
| S2 | 135.33 | -0.565 % | ||
| S3 | 134.45 | -1.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 150.60 | 10.65 % | |
| R2 | 140.50 | 3.23 % | ||
| R1 | 138.29 | 1.61 % | ||
| Current price | 136.10 | |||
| Support | S1 | 135.81 | -0.213% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
EXR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 15, 2024 | Mar 29, 2024 | $1.62 | 1.10% |
| 2 | Feb 22, 2024 | Mar 14, 2024 | Mar 29, 2024 | $1.62 | 1.10% |
| 3 | Dec 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $1.62 | 1.01% |
| 4 | Aug 18, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.610 | 0.502% |
| 5 | Jul 03, 2023 | Jul 12, 2023 | Jul 19, 2023 | $1.01 | 0.678% |
FAQ
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