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Possible Bearish Inside Day Candle Pattern Detected for Extra Space Stor (NYSE:EXR)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Extra Space Stor (NYSE:EXR) based on the price action in the company's shares. Yesterday's price range of $111.30 and $111.47 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. Owners of Extra Space Stor may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Extra Space Stor (NYSE:EXR) defies analysts with a current price ($111.59) 15.7% above its average consensus price target of $94.08. Extra Space Stor shares have support at the 200-day moving average (MA) of $110.72 and additional support at the 50-day MA of $107.43.

Extra Space Storage Inc. is a fully integrated, self-administered, and self-managed real estate investment trust. The Company owns, operates, acquires, develops, and redevelops professionally managed self-storage properties.

Extra Space Stor share prices have moved between a 52-week high of $124.46 and a 52-week low of $91.00 and closed yesterday at 23% above that low price at $111.59 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Extra Space Stor and will alert subscribers who have EXR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle extra space stor

Ticker(s): EXR