Public Storage Stock Forecast
Public Storage stock price ended at $265.76 on Monday, after losing 2.34%.
(Updated on Apr 15, 2024)
The Public Storage stock price fell by -2.34% on the last day (Monday, 15th Apr 2024) from $272.14 to $265.76. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.28% from a day low at $264.26 to a day high of $275.56. The price has fallen in 6 of the last 10 days and is down by -7.24% for this period. Volume has increased on the last day by 417 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 810 thousand shares were bought and sold for approximately $215.14 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($266.80) are considered to be a "second chance" to get out. According to the fan-theory $240.87 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
PSA Signals & Forecast
There are few to no technical positive signals at the moment. The Public Storage 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 $278.92 and $282.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -9.40%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Tuesday, April 09, 2024 and based on theory for this formation the price should fall by -1.34% to $262.19 within 21 trading days since signal was issued (Tuesday, April 16, 2024).
Support, Risk & Stop-loss for Public Storage stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $11.31 (4.28%) between high and low. For the last week, the stock has had daily average volatility of 2.75%.
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 Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Public Storage to open at $268.53, and during the day (based on 14 day Average True Range), to move between $258.81 and $272.71, which gives a possible trading interval of +/-$6.95 (+/-2.61%) up or down from last closing price. If Public Storage takes out the full calculated possible swing range there will be an estimated 5.23% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $280.29, some $14.53 (5.47%) from the current price of $265.76, our system finds the risk reward not very attractive.
Is Public Storage stock A Buy?
Public Storage holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.176 Sell Candidate Unchanged
Predicted Opening Price for Public Storage of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $268.53 ( 1.04%) | $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 | 279.83 | 5.29 % | |
| R2 | 275.51 | 3.67 % | ||
| R1 | 272.84 | 2.67 % | ||
| Current price: | 265.76 | |||
| Support | S1 | 264.21 | -0.585 % | |
| S2 | 261.54 | -1.59 % | ||
| S3 | 257.22 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 291.68 | 9.75 % | |
| R2 | 288.62 | 8.60 % | ||
| R1 | 280.29 | 5.47 % | ||
| Current price | 265.76 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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