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Possible Bullish Inside Day Candle Pattern Detected for Ps Business Park (NYSE:PSB)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ps Business Park (NYSE:PSB) based on the price action in the company's shares. Yesterday's price range of $146.48 and $147.06 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 Ps Business Park may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Ps Business Park share prices have moved between a 52-week high of $159.51 and a 52-week low of $113.01 and closed yesterday at 30% above that low price at $146.85 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

Ps Business Park (NYSE:PSB) is currently priced 22.4% above its average consensus analyst price target of $114.00. The stock should find resistance at its 50-day moving average (MA) of $151.16, as well as support at its 200-day MA of $136.75.

PS Business Parks, Inc. is a self-advised and self-managed real estate investment trust that acquires, develops, owns and operates commercial properties, primarily multi-tenant office industrial or ""flex"" space. The Company is the sole general partner of PS Business Parks, L.P. through which the Company conducts most of its activities.

SmarTrend is tracking the current trend status for Ps Business Park and will alert subscribers who have PSB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle ps business park

Ticker(s): PSB