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General Growth Properties Rises 1.46% on Heavy Volume: Watch For Potential Pullback

By David Diaz

General Growth Properties (NYSE:GGP) traded in a range yesterday that spanned from a low of $21.82 to a high of $22.32. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $22.24 on volume of 3.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of General Growth Properties on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $24.38. Since that call, shares of General Growth Properties have fallen 9.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, General Growth Properties has traded in a range of $21.05 to $32.10 and is now at $22.30, 6% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

Keywords: rebounders General Growth Properties

Ticker(s): GGP