Morning Trend | EXR Approaches the Bottom of the Range, Can Buying Defense Support a Rebound?

Extra Space Storage (EXR.US) fell back to around $128 yesterday, becoming a hot topic of discussion in the REITs sector. Community traders are discussing the upgrade of the long-short "tug of war"—the main players are on the sidelines, with only a small amount of capital testing the waters, and the large 'bottom-fishing army' has yet to enter. The impact of the U.S. interest rate hike cycle is still lingering, and the recovery in rental demand is below expectations. EXR's short-term chips are showing a 'neither dead nor alive' pattern, with defensive attributes hitting new lows. From a technical signal perspective, both MACD and moving averages are in a state of stagnation. Many community experts indicate that only 'two consecutive days of bullish candles and sustained volume at the bottom can be considered a true strong rebound.' If $128 can repeatedly hold and is accompanied by a surge in trading volume, short-term speculative funds may consider taking the lead for quick profit opportunities. However, if $128 cannot hold, panic selling may quickly be released, and a shift from defense to a stampede cannot be ruled out in the short term. The operational advice frequently appears as 'better to miss than to make a mistake': currently, there is no gathering of active attacking funds, and it is necessary to wait for a volume signal or a shift in overall sentiment in the REITs sector. Short-term bottom-fishing requires the courage to cut losses, and right-side trading should only follow obvious anomalies. The lack of hotspots makes it easy for sectors to fall behind, and conservative players should focus on controlling their positions. EXR faces a dilemma in both upward and downward movements; only when there is a surge in volume and a reversal can it be considered a short-term trading window. 'The market that emerges' depends on whether the main players dare to concentrate their fire