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Possible Bullish Inside Day Candle Pattern Detected for Extra Space Stor (NYSE:EXR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Extra Space Stor (NYSE:EXR) based on the price action in the company's shares. Yesterday's price range of $85.51 and $87.17 is within the prior day'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. Traders and investors interested in shares of Extra Space Stor may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Extra Space Stor share prices have moved between a 52-week high of $94.49 and a 52-week low of $68.09 and closed yesterday at 28% above that low price at $87.08 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

Extra Space Stor has overhead space with shares priced $87.08, or 1.9% below the average consensus analyst price target of $88.80. The stock should find resistance at its 50-day moving average (MA) of $88.52, as well as support at its 200-day MA of $82.59.

SmarTrend recommended that subscribers consider buying shares of Extra Space Stor on February 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $83.70. Since that recommendation, shares of Extra Space Stor have risen 4.0%. We continue to monitor EXR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle extra space stor

Ticker(s): EXR