• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Extra Space Storage (NYSE:EXR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Extra Space Storage (NYSE:EXR) based on the price action in the company's shares. Today's price range of $77.27 and $78.47 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Extra Space Storage may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 4.4% for shares of Extra Space Storage based on a current price of $77.59 and an average consensus analyst price target of $81.00. Extra Space Storage shares should first meet resistance at the 200-day moving average (MA) of $82.59 and find additional resistance at the 50-day MA of $88.52.

Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust. The Company owns, operates, acquires, develops, and redevelops professionally managed self-storage properties.

In the past 52 weeks, Extra Space Storage share prices have been bracketed by a low of $64.78 and a high of $94.81 and are now at $77.59, 20% above that low price. 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 is monitoring the recent change of momentum in Extra Space Storage. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Extra Space Storage in search of a potential trend change.

Keywords: bearish inside day candle extra space storage

Ticker(s): EXR