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Bearish Moving Average Cross by Simon Property (SPG)

By James Quinn

Today, shares of Simon Property (NYSE:SPG) have crossed bearishly below their 10-day moving average of $154.26 on a volume of 228K 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.

Simon Property share prices have moved between a 52-week high of $229.10 and a 52-week low of $150.15 and are now trading 2% above that low price at $153.45 per share. The 200-day and 50-day moving averages have moved 0.25% higher and 0.67% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Simon Property on April 26th, 2017 by issuing a Downtrend alert when the shares were trading at $166.30. Since that call, shares of Simon Property have fallen 7.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses simon property

Ticker(s): SPG