edumas2
Long

$EXR A bit of everything. Triangle and reverse head and shoulder

NYSE:EXR   EXTRA SPACE STORAGE INC
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Interesting basing action on this one.

While $EXR is linked to interest rates to some extent. They also offer a product (storage) that could be in demand if the economy is picking up.

We have a bit of a reverse head and shoulders on this one and also a flag on the right side.

I was in this one recently with some calls between roughly $69 and $74 (where I got out) as I saw this as no more than a counter-trend bounce but with the current basing action I think a jump to $79 or is a possibility.

The dashed red is a longer term resistance and the bold red under is a POC line for the last several months.

Keep in mind that this stock often jumps by a few buck right after the open. Great stuff if you are a scalper. However if you are planning to get it for a swing trade, it is not a bad idea to maybe take your trade after the first hour or two as "they" often being the price down. You will have a better entry. Just make sure that the price is still above the open however. Otherwise this could indicate some weakness, at least for that day.

Also, this stock can move big in a day. It's not the type of stock where you want to time everything to the penny.

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