Thursday, October 26, 2017 11:55:40 AM
This morning, leading self storage real estate investment trust (REIT), Public Storage (NYSE:PSA), is declining sharply lower after reporting earnings. It is reported that Public Storage missed revenue expectations and this is likely the reason for the decline in the stock price. Traders and investors must now expect more weakness in the coming weeks as the stock now trades below its 50 and 200-day moving averages. Traders should note that the next major support level for PSA stock will be around the $185.00 level. This important area is where the stock broke out in July 2015. Often, prior breakout levels will be defended when retested.
Nicholas Santiago
InTheMoneyStocks
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