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Buyers Accumulate Shares of Cedar Shopping Centers, Up 1.3%

Published on Thu, 06/13/2013 - 11:31
By Adrienne Chilton

One of today's notable stocks on the rise is Cedar Shopping Centers (NYSE:CDR), up 1.3% to $5.43. The Dow is up 0.2% to 15,029 and the S&P is currently up 0.3% to 1,618.

Over the past year, Cedar Shopping Centers has traded in a range of $4.53 to $6.83 and is now at $5.43, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

Cedar Shopping Centers Inc. is a real estate investment trust. The Company has investments primarily in multi-tenant, supermarket-anchored shopping centers and drug store-anchored convenience centers.

Cedar Shopping Centers has overhead space with shares priced $5.43, or 22.4% below the average consensus analyst price target of $7.00. The stock should find initial resistance at its 200-day moving average (MA) of $5.62 and further resistance at its 50-day MA of $6.18.

By Adrienne Chilton
achilton@fnno.com