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Watch for Continued Losses in Shares of Taubman Centers (TCO)

By James Quinn

Shares of Taubman Centers (NYSE:TCO) traded today at $56.59, breaking its 52-week low. So far today approximately 116,000 shares have been exchanged, as compared to an average 30-day volume of 357,000 shares.

In the past 52 weeks, shares of Taubman Centers have traded between the current low of $56.59 and a high of $81.68 and are now at $57.09. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Potential upside of 15.6% exists for Taubman Centers, based on a current level of $57.09 and analysts' average consensus price target of $66.00. Taubman Centers shares should first meet resistance at the 50-day moving average (MA) of $70.57 and find additional resistance at the 200-day MA of $71.94.

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.

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