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Simon Property Falls 2.41% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $175.36 to a high of $178.78. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $176.01 on volume of 851,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Simon Property. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Simon Property in search of a potential trend change.

Over the past year, Simon Property has traded in a range of $145.78 to $191.49 and is now at $175.45, 20% 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 0.5%.

Keywords: rebounders simon property

Ticker(s): SPG