Monday, July 31, 2006

Trade Ideas: PSA

Break to new near term highs on rise above $80 resistance. Well on its way of testing resistance at $84. The 40-week MA has been excellent support throughout this rally suggesting strong institutional demand. The point-n-figure chart shows a fresh ascending triple top breakout with a target of $94. The trend is very much your friend.

Public Storage, Inc., a real estate investment trust, engages in the acquisition, development, ownership, and operation of self-storage facilities in the United States. Its self-storage facilities offer storage spaces for lease on a month-to-month basis for personal and business use. The company also has interests in commercial properties containing commercial and industrial rental space; facilities that lease storage containers; and ancillary operations that include reinsurance of policies against losses to goods stored by its self-storage tenants, retail sales, and truck rentals at its self-storage locations.

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