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Shares of Taubman Centers Fall Below Previous 52-Week Low

By David Diaz

Shares of Taubman Centers (NYSE:TCO) traded today at $55.46, breaking its 52-week low. Approximately 280,000 shares have changed hands today, as compared to an average 30-day volume of 357,000 shares.

Over the past year, Taubman Centershas traded in a range of $55.46 to $81.68 and are now at $55.53. The 200-day and 50-day moving averages have moved 0.03% higher and 0.30% higher over the past week, respectively.

Taubman Centers, Inc. is a real estate investment trust which, through its operating partnership, the Taubman Realty Group LP, holds interests in and owns, develops, acquires, and operates regional shopping centers. Its activities include centers' management, leasing, and expansion.

Taubman Centers (NYSE:TCO) has potential upside of 18.8% based on a current price of $55.53 and analysts' consensus price target of $66.00. The stock should run into initial resistance at its 50-day moving average (MA) of $70.57 and subsequent resistance at its 200-day MA of $71.94.

SmarTrend is monitoring the recent change of momentum in Taubman Centers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Taubman Centers in search of a potential trend change.

Keywords: 52 week high/lows taubman centers

Ticker(s): TCO