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Bearish Moving Average Cross by General Growth Properties (GGP)

By James Quinn

Today, shares of General Growth Properties (NYSE:GGP) have crossed bearishly below their 10-day moving average of $22.35 on a volume of 2.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, General Growth Properties has traded in a range of $21.05 to $32.10 and is now at $22.09, 5% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of General Growth Properties on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $24.38. Since that call, shares of General Growth Properties have fallen 7.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses General Growth Properties

Ticker(s): GGP