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After Yesterday's Decline of 13.70%, Public Storage Offers Investors Better Value

By James Quinn

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.

In the past 52 weeks, Public Storage share prices have been bracketed by a low of $193.89 and a high of $266.76 and are now at $213.39, 10% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.5%.

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