Public Storage (PBTG): A Correction Could be Ahead

in #money • 7 years ago

SUMMARY

Public Storage (PBTG) started its IPO genesis in a correction mode. The WXYXZ sequence seems to be complete. A five impulse followed as labeled in teh below chart. Since wave 5 is probably complete, a requisite correction is likely the next step. How might that look?

First the pattern. The blue lines outline a Cup & Handle pattern and price has breached out of the handle formation as wave 5. Since the handle was wave 4; it's depth of retrace was not deep. However, since all five impulse waves are labeled, the red ABC show a potential correction pathway. The MACD is also overbought and ready to turn to the downside. Would you be an active buyer or seller at this point?

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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7 years ago in #money by
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     7 years ago  

    Looks perfect

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       7 years ago  

      post is very qualified, I like it, I've upvote you, vote back yes
      thank you

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         7 years ago  

        Impressive

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          [-]
           7 years ago (edited) 

          WOW

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             7 years ago  

            Auto downvote VP drainer!!