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Simon Property Falls 2.01% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $151.04 to a high of $153.97. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $152.20 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Simon Property share prices have moved between a 52-week high of $191.49 and a 52-week low of $150.80 and are now trading 0% above that low price at $151.38 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Simon Property on April 17th, 2019 by issuing a Downtrend alert when the shares were trading at $177.09. Since that call, shares of Simon Property have fallen 12.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders simon property

Ticker(s): SPG