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Look for Shares of Public Storage to Potentially Rebound after Yesterday's 13.70% Sell Off

By David Diaz

Public Storage (NYSE:PSA) traded in a range yesterday that spanned from a low of $211.02 to a high of $214.13. Yesterday, the shares fell 13.7%, which took the trading range below the 3-day low of $212.19 on volume of 339,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Public Storage has traded in a range of $193.89 to $266.76 and is now at $213.39, 10% above that low. The 200-day and 50-day moving averages have moved 0.11% higher and 1.5% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Public Storage and will alert subscribers who have PSA in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders public storage

Ticker(s): PSA