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Highwoods Prop: The Losing Streak Continues (HIW)

By Shiri Gupta

Highwoods Prop (NYSE:HIW) traded at a new 52-week low today of $26.39. This new low was reached on below average trading volume as 90,000 shares traded hands, while the average 30-day volume is approximately 818,000 shares.

Highwoods Prop (NYSE:HIW) has potential upside of 69.4% based on a current price of $28.66 and analysts' consensus price target of $48.56. The stock should run into initial resistance at its 200-day moving average (MA) of $45.68 and subsequent resistance at its 50-day MA of $48.01.

Over the past year, Highwoods Prophas traded in a range of $26.39 to $52.76 and are now at $28.66. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2%.

Highwoods Properties, Inc., with its operating partnership and subsidiaries, develops, manages, leases, and acquires suburban office and industrial properties. Highwoods Properties has expanded into markets throughout the southeastern and midwestern United States.

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

Keywords: 52 week high/lows highwoods prop

Ticker(s): HIW