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SmarTrend Watching for Potential Rebound in Shares of Simon Property After 1.51% Loss

By Shiri Gupta

Simon Property (NYSE:SPG) traded in a range yesterday that spanned from a low of $157.21 to a high of $159.77. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $158.06 on volume of 808,000 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, shares of Simon Property have traded between a low of $150.15 and a high of $229.10 and are now at $157.65, which is 5% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

Keywords: rebounders simon property

Ticker(s): SPG