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Extra Space Storage Crosses Below its 10-day MA (EXR)

By James Quinn

Today, shares of Extra Space Storage (NYSE:EXR) have crossed bearishly below their 10-day moving average of $82.91 on a volume of 179K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Extra Space Storage has traded in a range of $64.78 to $94.81 and is now at $82.54, 27% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Extra Space Storage on July 27th, 2016 by issuing a Downtrend alert when the shares were trading at $89.79. Since that call, shares of Extra Space Storage have fallen 7.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses extra space storage

Ticker(s): EXR