Extra Space Storage Inc

Stage 2 advancing supports a bullish medium-term bias reinforced by the Higher Highs & Higher Lows pattern, but price is extended above rising EMAs and overbought; defer execution and wait for a pullback into the rising 9/21 EMA region or the prior breakout support zone.

• ↑Core FFO $2.04/sh in Q1 (+2% YoY) beat expectations
• ↑Same‐store occupancy steady at 93% indicates strong demand
• ↓Earnings yield at –0.91 indicates stretched valuation