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?
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