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Simon Property Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Simon Property (NYSE:SPG) traded today at a new 52-week low of $155.75. Approximately 248,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.

There is potential upside of 17.5% for shares of Simon Property based on a current price of $155.75 and an average consensus analyst price target of $182.95. The stock should run into initial resistance at its 50-day moving average (MA) of $165.35 and subsequent resistance at its 200-day MA of $175.23.

Simon Property Group, Inc. is a self-administered and self-managed, real estate investment trust. The Company owns, develops, and manages retail real estate properties including regional malls, outlet centers, community/lifestyle centers, and international properties. Simon Property Group serves customers in the State of Indiana.

Simon Property share prices have moved between a 52-week high of $191.49 and the current low of $155.75 and are currently at $155.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Simon Property on April 17th, 2019 by issuing a Downtrend alert when the shares were trading at $177.08. Since that call, shares of Simon Property have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows simon property

Ticker(s): SPG