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Watch for Corp Office Prop to Potentially Pullback After Gaining 1.20% Yesterday

By Nick Russo

Corp Office Prop (NYSE:OFC) traded in a range yesterday that spanned from a low of $29.55 to a high of $30.04. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $29.94 on volume of 348,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Corp Office Prop and will alert subscribers who have OFC in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Corp Office Prop have traded between a low of $25.20 and a high of $30.57 and are now at $29.74, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders corp office prop

Ticker(s): OFC