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

By Amy Schwartz

Shares of Taubman Centers (NYSE:TCO) traded at a new 52-week low today of $54.00. So far today approximately 75,000 shares have been exchanged, as compared to an average 30-day volume of 357,000 shares.

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 has overhead space with shares priced $54.73, or 17.1% below the average consensus analyst 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.

Over the past year, Taubman Centershas traded in a range of $54.00 to $81.68 and are now at $54.73. The 200-day and 50-day moving averages have moved 0.03% higher and 0.30% higher over the past week, respectively.

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