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Bearish Moving Average Cross by General Growth Properties (GGP)

By David Diaz

General Growth Properties (NYSE:GGP) crossed under its 10-day moving average of $31.65 on a volume of 1.3 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, General Growth Properties share prices have been bracketed by a low of $24.22 and a high of $32.10 and are now at $31.41, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of General Growth Properties on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.57. Since that recommendation, shares of General Growth Properties have risen 11.5%. We continue to monitor GGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses General Growth Properties

Ticker(s): GGP