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Simon Property Falls 1.22% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $158.56 to a high of $163.20. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $161.26 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Simon Property have traded between a low of $150.15 and a high of $229.10 and are now at $160.85, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

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

Keywords: rebounders simon property

Ticker(s): SPG