The Greedy Trader Weekly Analysis
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- 6/26/2020 -
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PUBLIC STORAGE (PSA)

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Summary:
Weekly :
Daily :Williams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the PUBLIC STORAGE (PSA). During the week, the PSA gave back -1.31 points, or -0.69%, and closed at 189.28 on Friday, June 26, 2020. Weekly volume was -35% below average.

Long-term trend: [See PSA long-term trend chart]
A long-term downtrend had started on September 3, 2019 at 266.76 and reached 155.37 on March 23, 2020. PSA lost 111.39 points, or 41.76%, in 28 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 107.18 and resistance is at 206.95. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See PSA medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 155.37 and reached 213.61 on June 3, 2020. PSA gained -58.24 points, or -37.48%, in 10 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 185.68 and resistance is at 214.18. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See PSA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 29, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 June 3, 2020 at 213.61 and reached 186.36 on June 24, 2020. PSA lost 27.25 points, or 12.76%, in 21 days. The price is now at the 10.72% retracement level.

Daily Technical Indicators: [See PSA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is below its signal line since June 11, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.62
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 15.14
Oversold
Greed/Fear Indicator (GFI) 19.50
Oversold
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.98
Williams' Percentage Range (W%R) 54.80
Lane's Stochastic (%D-Slow) 65.25
Greed/Fear Indicator (GFI) 52.92
Moving Average Converg./Diverg. (MACD) -8.24
Trading Signals
Description Value Chart
Weekly Trendline Resistance 214.18
Upper Bollinger Band 208.81
Quarterly Trendline Resistance 206.95
Weekly Stochastic Crossing 198.83
20 Day Moving Average 198.72
Parabolic System 195.33
50 Day Moving Average 191.68
Price 189.28
Daily Stochastic Crossing 188.54
Weekly Trendline Support 185.68
Lower Bollinger Band 180.02
Sector and Industry
Description Name Rank
Sector Real Estate 4
Industry Specialized REITs 67
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 213.61
High Date 06/03/2020
Low 186.36
Low Date 06/24/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Valid
Resistance 214.18
Support 185.68
Low 155.37
Low Date 03/23/2020
High 213.61
High Date 06/03/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 233.37
High Date 02/18/2020
Low 155.37
Low Date 03/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 206.95
Support 107.18
High 266.76
High Date 09/03/2019
Low 155.37
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 180.48
Low Date 02/08/2018
High 266.76
High Date 09/03/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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