Today’s instrument is the Public Storage‘s stock traded in the NYSE exchange under the ticker PSA.
When we look at the PSA‘s chart, we see it’s been trading in a downtrend since the 17th of February, falling steadily lower and lower as market conditions worsen. There was some consolidation in the $344 range but ultimately it didn’t hold and support was temporarily formed at $340. It was last found trading at $342.40 above the support of $340 and the closest overhead resistance of $346.
Public Storage had scheduled a quarterly earnings announcement yesterday 22/02/2022 during aftermarket hours. Earnings expectations were surpassed, with both EPS and Revenue estimations surpassed today could expect the price to move upwards, towards the $352 price range.
Today we can expect a move towards the $346 resistance level.
If however, it doesn’t manage to hold on to the current level then a move below the $340 support can be expected.
(Click on image to enlarge)
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