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Look for Shares of Extra Space Stor to Potentially Rebound after Yesterday's 2.23% Sell Off

By Shiri Gupta

Extra Space Stor (NYSE:EXR) traded in a range yesterday that spanned from a low of $88.00 to a high of $89.76. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $89.81 on volume of 528,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Extra Space Stor have traded between a low of $76.55 and a high of $101.95 and are now at $88.13, which is 15% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Extra Space Stor on July 16th, 2018 by issuing a Downtrend alert when the shares were trading at $96.17. Since that call, shares of Extra Space Stor have fallen 6.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders extra space stor

Ticker(s): EXR