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Simon Property Crosses Below its 10-day MA (SPG)

By James Quinn

Simon Property (NYSE:SPG) shares have crossed bearishly below their 10-day moving average of $223.17 on a volume of 471K 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.

Over the past year, Simon Property has traded in a range of $170.99 to $226.42 and is now at $219.60, 28% 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 subscribers consider buying shares of Simon Property on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $200.45. Since that recommendation, shares of Simon Property have risen 12.0%. 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