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Public Storage: The Winning Streak Continues (PSA)

By James Quinn

Public Storage (NYSE:PSA) traded at a new 52-week high today of $263.04. Approximately 53,000 shares have changed hands today, as compared to an average 30-day volume of 795,000 shares.

Public Storage share prices have moved between a 52-week high of $263.04 and a 52-week low of $193.89 and are now trading 36% above that low price at $263.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California.

Based on a current price of $263.04, Public Storage is currently 22.2% above its average consensus analyst price target of $204.77. The stock should discover initial support at its 50-day moving average (MA) of $247.40 and subsequent support at its 200-day MA of $222.79.

SmarTrend recommended that subscribers consider buying shares of Public Storage on August 2nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $248.88. Since that recommendation, shares of Public Storage have risen 5.2%. We continue to monitor PSA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows public storage

Ticker(s): PSA