Extra Space Storage (EXR) Crossed Above the 200-Day Moving Average: What That Means for Investors
Extra Space Storage (EXR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, EXR crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
EXR could be on the verge of another rally after moving 11.5% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
Looking at EXR's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 5 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch EXR for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Extra Space Storage Inc (EXR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
