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After Yesterday's Decline of 1.46%, Highwoods Prop Offers Investors Better Value

By Shiri Gupta

Highwoods Prop (NYSE:HIW) traded in a range yesterday that spanned from a low of $43.31 to a high of $44.35. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $43.63 on volume of 542,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Highwoods Prop has traded in a range of $41.83 to $56.23 and is now at $43.89, 5% 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 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Highwoods Prop on October 27th, 2017 by issuing a Downtrend alert when the shares were trading at $51.20. Since that call, shares of Highwoods Prop have fallen 13.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders highwoods prop

Ticker(s): HIW