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Simon Property Falls 2.25% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $157.48 to a high of $160.93. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $161.01 on volume of 795,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Simon Property has traded in a range of $150.15 to $229.10 and is now at $157.62, 5% above that low. The 200-day and 50-day moving averages have moved 0.25% higher and 0.67% higher over the past week, respectively.

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