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Recent 52-Week Low Surpassed in Shares of Prologis Inc (PLD)

By Shiri Gupta

Shares of Prologis Inc (NYSE:PLD) traded at a new 52-week low today of $59.82. This new low was reached on below average trading volume as 270,000 shares traded hands, while the average 30-day volume is approximately 4.6 million shares.

Prologis, Inc. is an owner, operator, and developer of industrial real estate, focused on global and regional markets across the Americas, Europe, and Asia. The Company also leases modern distribution facilities to customers, including manufacturers, retailers, transportation companies, third-party logistics providers, and other enterprises.

Over the past year, Prologis Inchas traded in a range of $59.82 to $99.79 and are now at $60.47. The 200-day and 50-day moving averages have moved 0.26% lower and 2.52% lower over the past week, respectively.

There is potential upside of 16.1% for shares of Prologis Inc based on a current price of $60.47 and an average consensus analyst price target of $70.23. Prologis Inc shares should first meet resistance at the 200-day moving average (MA) of $86.05 and find additional resistance at the 50-day MA of $88.85.

SmarTrend recommended that its subscribers protect gains by selling shares of Prologis Inc on March 6th, 2020 by issuing a Downtrend alert when the shares were trading at $84.34. Since that call, shares of Prologis Inc have fallen 25.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows prologis inc

Ticker(s): PLD