PSA) Faces Selloff, Will Bulls Protect $250?
The post PSA) Faces Selloff, Will Bulls Protect $250? appeared on BitcoinEthereumNews.com. Public Storage (NYSE: PSA) PSA stock chart shows the lower lows and that sellers persisted in making short buildups. Furthermore, the chart shows the three black crows pattern with a strong bearish candlestick breaking the previous low of $255 and is heading toward the round mark of $250. Amid the buyers’ attempt to surpass the 50 day EMA, buyers faced a strong rejection and further follow-on selling was witnessed. PSA stock was trading in a downtrend and has lost momentum due to a strong selloff. Per the options chain, at the strike price of $260, a massive open interest of 278 hundred shares on the put side, whereas 12 hundred shares on the call side, shows that long positions were trapped and buyers were in trouble. At press time, PSA stock price was $251.19 with an intraday drop of 2.83% highlighting the bearishness. Moreover, trading volume increased by 1.23% to 1.02 Million while the market cap is $44.167 Billion. However, analysts have maintained a neutral rating with a yearly target price of $315.75. Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Other Items segment includes general, administrative, and investment costs. Will PSA Stock Hold $250 or Continue to Lose? Source: PSA Stock Price Chart At TradingView On the daily charts, PSA stock price is below the significant moving averages and is favoring the bears. Furthermore, the price action shows a massive…
The post PSA) Faces Selloff, Will Bulls Protect $250? appeared on BitcoinEthereumNews.com.
Public Storage (NYSE: PSA) PSA stock chart shows the lower lows and that sellers persisted in making short buildups. Furthermore, the chart shows the three black crows pattern with a strong bearish candlestick breaking the previous low of $255 and is heading toward the round mark of $250. Amid the buyers’ attempt to surpass the 50 day EMA, buyers faced a strong rejection and further follow-on selling was witnessed. PSA stock was trading in a downtrend and has lost momentum due to a strong selloff. Per the options chain, at the strike price of $260, a massive open interest of 278 hundred shares on the put side, whereas 12 hundred shares on the call side, shows that long positions were trapped and buyers were in trouble. At press time, PSA stock price was $251.19 with an intraday drop of 2.83% highlighting the bearishness. Moreover, trading volume increased by 1.23% to 1.02 Million while the market cap is $44.167 Billion. However, analysts have maintained a neutral rating with a yearly target price of $315.75. Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Other Items segment includes general, administrative, and investment costs. Will PSA Stock Hold $250 or Continue to Lose? Source: PSA Stock Price Chart At TradingView On the daily charts, PSA stock price is below the significant moving averages and is favoring the bears. Furthermore, the price action shows a massive…
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