0KS3 trade ideas
Public Storage (PSA) ... Time to cancel your lease?Two negative patterns (Crab and Wolfe Wave) evolving into a Bearish Cyber Harmonic Pattern
especially in perhaps a upcoming soft equities market correction, as the Trump bid fads and profits are quickly taken.
I would look to sell upward price retracements probably around the 300+ area.
DYODD
S.
PSA Win Looking Good for HigherI carved out a win today on NYSE:PSA to start a trend off the Weekly 50% Level. This has a chance to run based on the technical setup as well as a possible secular bull trend if one believes people will need to store their stuff into a housing crunch.
The initial trade began on a 30 minute timeframe spike (which unfortunately was not caught on Tradingview data). With a stop just below the spike low of 1/19/23 I was able to play the position to a conservative high retest. Now I am keeping on shares as runners.
Incidentally... PSA has held a major 50% pullback before on the COVID low. The entry point now is the 2016 high of that trend that created said pullback. This is a great level to take long.
Weekly chart on Public Storage reaches key fulcrum pointAh yes, the classic bullish falling wedge overlapping a bearish head and shoulder pattern; tale as old as time. We can see price action here on the weekly chart is getting very near the apex of the falling wedge….however it has also closed several candles below the neckline of the h&s pattern. Still not certain which of the 2 patterns will win out but it does appear the decision is very likely to be made within the next 3-10 candles. For the falling wedge to win and a break upward it is imperative priceaction holds support on the blue 200 weekly moving average. If this is flipped to solidified resistance then probability will favor the head and shoulders breakdown. *not financial advice*
PSA is looking weak and ready to go downStorage company, stock is showing weakness on shorter time-frames. SHORT
$PSA with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $PSA after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
PSA - Time Analysis A time Analysis plotting bottoms and tops
Each period of time between bottom and top is roughly the same, which allows for the last assumption of a bull move upward
Strong trend line up will be held
Red is top, Green is bottom
PSA Bubble popped The chart posted is just one of so many that has been used to take money from weak hands to back to strong hands that should be at least a drop of 65 to 75 % well before any one can stick their head out of the foxhole . I say foxhole because there has been a war going on for decades the rich vs the workers . Btw the way there has been little to no bottoms thru out history worth buying until the Unemployment rate has been up over 6 % plus see us data since 1942
$PSA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $PSA after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
$PSA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $PSA after a Positive over reaction following its earnings release placing the stock in drift B.
(PSA) Public Storage: Funds need to put their $ somewhere...High relative strength, new highs, and breaking out on a weekly time frame.
Not many stocks could make the same claim today... institutions need to put money to work. They can't just sit in cash - many are mandated to have exposure. I've heard stories of some not being allowed to have a 10% cash position. So where do they put their money? Hopefully in strength. They also can't be fully invested in stocks that are only commodity/mining based (since those are the majority making new highs this week/showing relative strength).
$PSA Attempting to Break OutHi Folks,
This is a pretty simple set up here. We have a huge base on PSA going back to March 2016. The previous highs from that time are presenting textbook resistance in my opinion. I believe that PSA will break out and there's an opportunity in the setup. Here's my thesis:
The XLRE has being showing relative strength to the S&P the last three months and has really come on in the last month as a leader. Not surprisingly, the XLRE just broke through it's pre-covid crash highs. PSA is a top holding in the XLRE and could follow suit and breakthrough as well. If you believe the recent strength in the XLRE can be sustained, then it's top holdings would most likely lead the way.
PSA is Public Storage. They recently bought a smaller competitor EZStorage demonstrating the need to expand and showcasing the current demand for storage units. Moreover, PSA stands to benefit from the current housing market up cycle as people are moving all over the country and are storing items as needed. Anecdotally, I live in a major metro-area and a brief search of all the area PSA sites show low or now availability of all sized units.
Earnings are reported tomorrow and could provide the catalyst needed to punch through resistance. If resistance is broken I think the stock can rally to about $314 in the near term.
If the stock fades from it's current levels and fails to break resistance then the thesis is no good and the trade should be abandoned.
Disclosure: I am long PSA.
Anyway, what do you all think?
NYSE:PSA AMEX:SPY AMEX:XLRE
Public Storage Put?Price is currently testing a resistance zone. Looking for a retracement of previous low up to 61% of fibonnaci. On the 4 hour I see a W pattern that is finishing up hopefully which would trigger a pullback.
Strike Price: $230.34
What do you think?
Like, Follow, Agree, Disagree!
$PSA to $230Could hold to $232, but after that, it's a gamble.
Watching for confirmation tomorrow.
Playing options. Want to see the MACD line come upward and the get on top of that histo
Public Storage elliot wave countThis is my prediction for PSA. We are heading for cycle wave III which will be devided to 5 primary waves.
The targets for the three upcoming primary impusive waves are inside the red boxes.
Risk disclaimer
This prediction is based on my personal opinion and this article does not suggest you to make any trades.
I am not responsible for any future losses using the information above.
PSA - value play or value trap?Over the past 4 months PSA has shed nearly 25% from its peak around $266. Moreover, during the same time period, the XLRE (Real Esate ETF of which PSA is a part of) gave back just 7% +/-. So, will the under performance continue? Or, will PSA rebound from current levels and offer a chance at some upside while delivering around a 4% dividend? If indeed the over-bought S&P rally is overdue for a pullback and if we see some mean reversion in terms of return this year, then a good dividend paying stock currently undervalued is worth some risk. We have the start of what looks like a possible turning point in PSA but will need to employ patience. First, as is typical at the edges of moves, we are seeing an increase in volume. A good example of this in PSA was the basing around $200 in late 2018/early 2019 whereby a few repeated volume spikes signified a turn was coming. The combination of new longs entering the market, new shorts entering the market, weak longs dumping losses, and old shorts covering positions has always caused volume (and volatility) around the turning points and this is seen best, in my opinion, in volume expansion. Repeated volume expansion around the edges typifies many shares exchanging hands and an eventual change in direction. In the case of PSA, it looks as if this could be starting to take shape but again will take some time to play out. In addition to the volume uptick we also have a potential false break lower, another good indicator of a potential turning point (not only does it indicate a lack of follow through but increased buying). Might be a bit early to make a call on this one but the potential is there for a decent swing trade with a chance at more. More importantly, if this does materialize it will offer a low-risk setup as the false break provides decent stop placement - potential targets would be the high volume breakdown from the $240 level and the initial breakdown off the top around $260. I wouldn't rule out a wider consolidation pattern similar to what we saw at the end of 2018. While that wouldn't be bad (as we could target longs off of a retest of the false break low around $203), ideally we would see a sharp move up on volume accompanied by a low volume pull back. Whichever way it breaks only time will tell, will revert back as more is revealed.
