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Simon Property Set to Possibly Rebound After Yesterday's Selloff of 3.19%

By David Diaz

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $178.39 to a high of $184.68. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $182.32 on volume of 432,000 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 $145.78 and a high of $191.49 and are now at $178.94, which is 23% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.13% 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