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

By Amy Schwartz

Shares of Simon Property (NYSE:SPG) traded at a new 52-week low today of $150.67. So far today approximately 469,000 shares have been exchanged, as compared to an average 30-day volume of 1.5 million shares.

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.

There is potential upside of 21.4% for shares of Simon Property based on a current price of $150.67 and an average consensus analyst price target of $182.95. The stock should find initial resistance at its 50-day moving average (MA) of $160.43 and further resistance at its 200-day MA of $173.74.

In the past 52 weeks, Simon Property share prices have been bracketed by a current low of $150.67 and a high of $191.49 and are now at $150.67. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

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 14.1%. 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