Public Storage Stock Could Move Up

By Stock MarketsFeb 23, 2022 05:23AM ET

www.investing.com/analysis/public-storage-stock-could-move-up-200618578

Public Storage Stock Could Move Up

By | Feb 23, 2022 05:23AM ET

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PSA

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When we look at the Public Storage (NYSE:PSA) chart, we see it’s been trading in a downtrend since Feb. 17, 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 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.

Public Storage stock price chart.

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Public Storage Stock Could Move Up

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