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Simon Property Set to Possibly Rebound After Yesterday's Selloff of 2.41%

By Shiri Gupta

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.

In the past 52 weeks, Simon Property share prices have been bracketed by a low of $145.78 and a high of $191.49 and are now at $175.45, 20% above that low price. 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