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- 1 Public Storage Price decreased by 2.22% over the past seven days.
- 2 Public Storage (NYSE: PSA) stock’s 52-week price range is $270 – $400.
Public Storage has been growing its earnings and revenues faster than its industry. It has a high return on equity of 43.1% and high net margins of 95.4%. According to SimplyWall St., a financial website, the Public Storage stock has less debt than equity, with a debt-to-equity ratio of 68.1%. PSA stock can pay its interest easily, with an interest coverage ratio of 21.3. PSA stock has a cash balance of $695.4 Million.
The market capitalization of PSA stock is $51.506 Billion and the total revenue is $4.18 Billion. Moreover, the PSA stock’s basic EPS is $23.65 and the price-to-earnings ratio is 12.46. Moreover, the average volume is 797.612K and the current volume is 776.312K, the current volume is below average volume in Public Storage (NYSE: PSA) stock.
Technical Analysis of Public Storage Price in 1-D Time Frame
The price action shows that Public Storage ( NYSE: PSA) price fell from the resistance level of around $315.39 in mid-April 2023 to the support level of $279.05 by the first week of June 2023.
Thereafter, the Public Storage stock trend changed as the price rebounded on June 7th, 2023, and followed the channel, making higher highs and higher lows. However, the Public Storage stock price faced rejection from the resistance level at $301.65 and broke the uptrend, falling lower.
Based on these details over the daily time frame, it is presumed that the Public Storage price is forming a bearish pattern, which is a bearish flag pattern. At the time of publishing, the PSA stock price is trading near $289.03 and is expected to fall further as soon as the trendline breaks.
We might see the PSA stock price drop to the nearest support levels, which are $279.05 and $269.89. Alternatively, if the PSA price finds support from the current level and rises, then it might reach the nearest resistance levels, which are $301.65 and $315.39.
At the time of publishing, Public Storage is trading below the 20, 50, 100, and 200-day EMAs (exponential moving average), which are rejecting the Public Storage stock price trend. Hence, Public Storage Price is expected to move downwards giving bearish signals over the daily time frame chart.
The current value of RSI is 46.07 points. The 14 SMA is above the median line at 56.19 points which indicates that the price is bearish as the RSI line took rejection from the 14 SMA line.
The MACD line at 1.73 and signal line at 1.87 are above the zero line and a bearish crossover was observed in the MACD oscillator which signals more bearishness for the PSA share price.
Summary
Public Storage. (NYSE: PSA) shows that the investors and traders of the stock are bearish on the 1-D time frame. The price action shows a bearish outlook at the time of publishing. The technical parameters of the PSA stock price also support the bearish trend. The major indicators MACD, RSI, and EMA are giving negative signals and imply that the downtrend may continue in PSA stock price.
Technical Levels
- The nearest support levels: $279.05 and $269.89.
- The nearest resistance levels: $301.65 and $315.39.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
