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Uptrend ExhaustionArchive
- 4/19/2024 -
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PUBLIC STORAGE (PSA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the PUBLIC STORAGE (PSA). During the week, the PSA dropped -11.76 points, or -4.32%, and closed at 260.38 on Friday, April 19, 2024. Weekly volume was -15% below average.
PSA is a member of Real Estate Sector. Real Estate is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See PSA long-term trend chart]
A long-term uptrend had started on October 31, 2023 at 233.18 and reached 312.25 on January 2, 2024. PSA gained -79.07 points, or -33.91%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (297.20) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PSA may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See PSA medium-term trend chart]
A medium-term downtrend had started on January 2, 2024 at 312.25 and reached 258.90 on April 18, 2024. PSA lost 53.35 points, or 17.09%, in 15 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend support line (274.33) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See PSA weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 22, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See PSA short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 295.20 and reached 258.90 on April 18, 2024. PSA lost 36.30 points, or 12.30%, in 38 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern.
 Daily Technical Indicators: [See PSA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 10, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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