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Shares of Public Storage Has Fallen Below Previous 52-Week Low

By Shiri Gupta

Shares of Public Storage (NYSE:PSA) traded today at $183.91, breaking its 52-week low. This new low was reached on below average trading volume as 178,000 shares traded hands, while the average 30-day volume is approximately 1.2 million shares.

Public Storage has overhead space with shares priced $185.30, or 9.5% below the average consensus analyst price target of $204.77. The stock should run into initial resistance at its 50-day moving average (MA) of $219.20 and subsequent resistance at its 200-day MA of $232.17.

In the past 52 weeks, Public Storage share prices have been bracketed by a current low of $183.91 and a high of $266.76 and are now at $185.30. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.8%.

Public Storage is a real estate investment trust. The Trust's principal business activities include the acquisition, development, ownership, and operation of self-storage facilities in the United States. Public Storage also own an equity interest in an owner and operator of self-storage facilities in Europe.

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: 52 week high/lows public storage

Ticker(s): PSA