• Return to Headlines

Bearish Moving Average Cross by Simon Property (SPG)

By Amy Schwartz

Simon Property (NYSE:SPG) shares have crossed bearishly below their 10-day moving average of $176.31 on a volume of 188K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Simon Property share prices have been bracketed by a low of $145.78 and a high of $179.45 and are now at $176.19, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Simon Property on April 30th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $155.48. Since that recommendation, shares of Simon Property have risen 13.7%. We continue to monitor SPG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses simon property

Ticker(s): SPG