Public Storage: An Expected Move Towards The $3467 Resistance Level
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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