Extra Space Storage, Inc. operates as a real estate investment trust (REIT) in the United States. It engages in property management and development activities that include acquiring, managing, developing, and selling, as well as the rental of self-storage facilities. As of December 31, 2006, Extra Space Storage owned interests in 567 properties located in 32 states and Washington, D.C., as well as managed 74 properties owned by franchisees or third parties. As a REIT, the company would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1977 and is based in Salt Lake City, Utah.
The break below $73.00 (a previous stop volume candle from February 2016) was just excess. This week it back-tested the close of 2016 and all that's left is a reversion back to 2016's most active price (POC). There is some minor overhead resistance around the $80.50 level.
This is the three year chart, with an obvious Wyckoff Spring playing out. When a stock jumps back inside of a previous range (indicated by the horizontal line), there is high probability of a reversion back to the most active price. As indicated by my previous post, the 80.50'ish level could prove to be some resistance as there is an HVN (high volume node) there.
What the... gold and REITs faring good the day after hawkish FOMC minutes. Very interested to see what happens here.