EXR Double bottom on uptrend stock and engulfingDouble bottom on uptrend stock plus a bullish engulfing candle
EXR trade ideas
EXR: MAJOR SHORT SET UPAfter reaching new highs in 2018, a major bearish divergence has formed on both the MACD and RSI. This can be seen by a much lower reading on the indicator, yet a higher high made by the price. Also, an ascending wedge has formed, which will likely lead to major downside upon crack of the lower support trend line.
Short EXR (Monthly wedge about to break)A break monthly wedge will bring a sharp waterfall, imo heading to 618 fib retracement
EXR bullish againLast week, EXR held a very nice support at $90.00. For a day or two, I am expecting a minor retracement back to $93.00 and then back to $100. The relative strength indicator is back above 50 and is showing a gain in strength/momentum to the upside. I am experimenting with a vertical spread by buying the 95 call and selling the 100 call expiration in December. I am expecting about 3-5 weeks for the stock to get back to $100.00. I bought the call spread for 225$ and in 3-5 weeks when stock is back to $100 per share, this trade will profit between $70.00-$100. The rate of return is 31% minimum and 44.4%. If I hold this trade till expiration in December, my max profit would be 275.00 or 122.22%. As earnings come within 3 months, I most likely would take any profits right before earning as volatility will increase the price of the call options and I could sell them for a higher price.
Extra Space Storage Inc SHORTShort @ 95.03
Market Cap - 12.53B
Beta - 0.40
Price/Book - 5.12
Forward P/E - 31.59
- Since the beginning of the year, shares of EXR have continued to outperform the industry.
- Despite 1Q18
- Lots of the company's markets are witnessing an increasing supply of new self-storage space which is due to fuel competition - meaning EXR won't be able to raise rent price and will have to start discounting this could affect the company's bottomline.
- Interest rate hikes are also a concern for Extra Space Storage. Higher rates mean higher borrowing costs which would affect it to be able to develop or purchase real estate and lower dividends.
- Their self-storage units are leased on a month-to-month basis. If clients financial situation become distressed they can vacate whenever.
- Forward P/E is quite concerning at 31.59x which might indicate to investors not to pay such a premium price.
NeroTree Capital rates Extra Space Storage as a SELL with a price target of $85.
EXR Possible Breakout UpEXR with in my opinion a B grade triangle and no volume on the breakout. May continue higher but would definitely need to see more volume come in. If not could be a fake breakout and return lower.
EXR LongEstablishing a long position in EXR as my first Option trade of 2018 for the Veritas Fund. Ideally as the stock moves up over the life of the trade I'll be able to sell shorter duration Calls against it to maintain positive theta.
Sell EXR Here with Stop at 76.93. Aim for a 4.4 to 1 risk/rewardEXR broke market Profile Support today. Should continue lower.
Divergence signal, accompanied by trendline breakoutMonitor for further buying interest to support the price over the near term.
Target: US$79.34, US$81.93, US$84.99
Support: US72.06
$EXR A bit of everything. Triangle and reverse head and shoulderInteresting 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.
Long OpportunityNYSE:EXR has broken above the channel, and successfully retested the channel line with a doji. It is time to go long on this with a target of $82 or $94.
Extra Space Storage - $EXR - Long from $68Looking on the daily chart price has formed a strong marubozu candlestick. This shows strong selling pressure throughout the session.
I believe we could see $68 where price may bounce and head back towards the 72 level. 68 coincides with the 50 MA.
We can see the current range is basically a copy of the previous range which we broke out of last month (range of $4).
