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Look for Shares of Taubman Centers to Potentially Rebound after Yesterday's 6.18% Sell Off

By Nick Russo

Taubman Centers (NYSE:TCO) traded in a range yesterday that spanned from a low of $38.01 to a high of $40.50. Yesterday, the shares fell 6.2%, which took the trading range below the 3-day low of $42.98 on volume of 1.9 million 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 Taubman Centers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Taubman Centers in search of a potential trend change.

In the past 52 weeks, shares of Taubman Centers have traded between a low of $26.24 and a high of $53.40 and are now at $40.25, which is 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has remained constant.

Keywords: rebounders taubman centers

Ticker(s): TCO