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Shares of Public Storage Has Risen Above Previous 52-Week High

By James Quinn

Shares of Public Storage (NYSE:PSA) traded today at $259.51, breaking its 52-week high. This new high was reached on below average trading volume as 87,000 shares traded hands, while the average 30-day volume is approximately 848,000 shares.

Over the past year, Public Storage has traded in a range of $193.89 to $259.51 and is now at $259.51, 34% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.4%.

Public Storage (NYSE:PSA) is currently priced 21.1% above its average consensus analyst price target of $204.77. The stock should discover initial support at its 50-day moving average (MA) of $245.00 and subsequent support at its 200-day MA of $220.83.

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.

SmarTrend is monitoring the recent change of momentum in Public Storage. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Public Storage in search of a potential trend change.

Keywords: 52 week high/lows public storage

Ticker(s): PSA