Public Storage Stock Forecast

Green day on Friday for Public Storage stock after gaining 0.179%
(Updated on Jun 21, 2024)

PSA-PN Signals & Forecast

There are mixed signals in the stock today. 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 $17.16. On a fall, the stock will find some support from the short-term average at $17.02. 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. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -3.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Public Storage has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Thursday, May 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Public Storage stock

Public Storage finds support from accumulated volume at $17.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0704 between high and low, or 0.415%. For the last week the stock has had daily average volatility of 0.85%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PSA-PN) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Public Storage to open at $17.00, and during the day (based on 14 day Average True Range), to move between $16.82 and $17.23, which gives a possible trading interval of +/-$0.205 (+/-1.20%) up or down from last closing price. If Public Storage takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.02 (0.00%) than the resistance at $17.50 (2.82%), 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.

Current score: -4.333 Sell Candidate Unchanged

Predicted Opening Price for Public Storage of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.