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After Yesterday's Decline of 4.00%, Penn Reit Offers Investors Better Value

By James Quinn

Penn Reit (NYSE:PEI) traded in a range yesterday that spanned from a low of $10.65 to a high of $11.13. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $11.19 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Penn Reit and will alert subscribers who have PEI in their portfolio or watchlist when shares have changed trend direction.

Penn Reit share prices have moved between a 52-week high of $25.67 and a 52-week low of $10.00 and are now trading 8% above that low price at $10.82 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.8%.

Keywords: rebounders penn reit

Ticker(s): PEI