EXR Signals SELL On Daily Chart
The Technical Analysis
Published: September 5, 2021 at 09:29 PM EDT
On August 31, 2021, Extra Space Storage Inc stock (EXR) achieved a SELL signal on 1 of our proprietary algorithms indicating near-term downward movement for EXR. Based on historically similar occurrences, the likelihood of this near-term movement is very high. Although this analysis may be technical, it clearly lays out targets for pending price action for EXR. The chart of all potential movement is at the bottom of this article.
This algorithm follows the common Relative Strength Index with a shorter length. It signals when extreme overbought and oversold conditions occur. This particular algorithm signals rarely but maintains one of the best accuracy levels of all my algorithms.
Relative Strength Index 3x Extrema SELL - EXR Daily Chart Accuracy
This algorithm accurately identifies SELL points for EXR on daily charts 100.0% of the time it signals. A successful signal means the equity price moves down at least 1% over the next 35 Daily bars. When the algorithm properly performs, success is seen at least 1 trading bars after the signal closing price with a median max gain occurring around 16 trading bars after the signal bar. Successful signals see average reversals of 6.588% from the signal bar closing price and median reversals of 4.743%. The equity reverses greater than two percent 94.118% of the time, greater than five percent 47.059% of the time, and moves beyond ten percent 17.647% of occurrences. The signal does not necessarily mean an immediate price reversal will occur. Price reversal is delayed 94.118% of the time. In these instances, the reversals do not obey the signal and begin sizable downward movement for an additional 2 to 8 bars after the triggering signal occurs. This delay can see the equity rise 0.872% to 2.742% beyond the signal closing price of 186.91.
Analysis Based on This Section
Based on the signal closing price of 186.91, the target price is between 170.42 and 179.31 over the next 6 to 22 bars after the signal. However, the equity may first rise toward a price in the range of 188.54 to 192.04 over the first 2 to 8 trading bars.
Summarization of Data
Based on all of the historical datapoints, this analysis has settled on the most likely courses of movement. The red boxes in the image below indicate the likely location of a rise if the signal is not immediately accurate. The green boxes likely hold the extent of signal accuracy. The larger boxes contain all movements aligned with historical data. The smaller box is comprised of the likely half of the median historical data. In this instance, half of the historical data shows the stock may first move up between 188.54 and 192.04. This is the small red box. Likewise, half of the historical target end points finish in the smaller green box. In this instance, the target bottom is likely between 170.42 and 179.31.
View this interactive chart on TradingView to see where the stock currently is for this idea.
DISCLOSURE: The algorithms and historical accuracy percentages mentioned in these articles are for reference only. Anything can happen in the future when it comes to market movement. Historical price action is not always indicative of future movement. Just because the signals may have a high degree of accuracy, they can always fail. Traders assume all risk to their assets when investing in short or long-term opportunities.