When applying indicators for technical analysis, traders and investors might want to look at the ATR or Average True Range. The current 14-day ATR for Extra Space Storage Inc (EXR) is currently sitting at 1.64. The ATR basically measures the volatility of a stock on a day-to-day basis. The average true range is typically based on 14 periods and may be calculated daily, weekly, monthly, or intraday. The ATR is not considered a directional indicator, but it may reflect the strength of a particular move.
Currently, the 14-day ADX for Extra Space Storage Inc (EXR) is sitting at 24.26. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
Checking in on some other technical levels, the 14-day RSI is currently at 67.77, the 7-day stands at 72.25, and the 3-day is sitting at 70.23. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles Wilder in the late 1970’s. Wilder laid out the foundation for future technical analysts to further investigate the RSI and its relationship to underlying price movements. Since its inception, RSI has remained very popular with traders and investors. Other technical analysts have built upon the work of Wilder. The 14-day RSI is still a widely popular choice among technical stock analysts.
Investors may be watching other technical indicators such as the Williams Percent Range or Williams %R. The Williams %R is a momentum indicator that helps measure oversold and overbought levels. This indicator compares the closing price of a stock in relation to the highs and lows over a certain time period. A common look back period is 14 days. Extra Space Storage Inc (EXR)’s Williams %R presently stands at -13.57. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.
Taking a closer look from a technical standpoint, Extra Space Storage Inc (EXR) presently has a 14-day Commodity Channel Index (CCI) of 71.20. Typically, the CCI oscillates above and below a zero line. Normal oscillations tend to stay in the range of -100 to +100. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Although the CCI indicator was developed for commodities, it has become a popular tool for equity evaluation as well.
Typically bull markets are times when investors may be willing to be a bit more speculative with stock selection. Managing risk is generally at the forefront of many strategies. Investors trying to shift the odds in their favor may be searching for the perfect balance and diversification to help mitigate the risk and enjoy healthier profits. With so many different stocks to choose from, it may take a while to zoom in or a particular set. Investors will also be watching the next wave of economic data to get a better sense of how the overall economy is fairing. With so much noise in the markets, it may be necessary to narrow the gaze in order to set the table for success. Investors may be on the lookout for the major catalyst that either keeps the bulls charging into the second half the year, or wakes up the sleeping bears.