Bullish Moving Average Cross by SL Green Realty (SLG)

Published on Mon, 06/01/2015 - 11:23
By Robert Cotter in Moving average crossovers, SLG, moving crosses, nyse:slg, sl green realty

Today, shares of SL Green Realty (NYSE:SLG) have crossed bullishly above their 10-day moving average of $120.02 on a volume of 378K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, SL Green Realty share prices have been bracketed by a low of $99.89 and a high of $135.81 and are now at $120.63, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.6%.

There is potential upside of 10.3% for shares of SL Green Realty based on a current price of $120.63 and an average consensus analyst price target of $133.07. SL Green Realty shares should encounter resistance at the 50-day moving average (MA) of $125.52 and support at its 200-day MA of $119.29.

SL Green Realty Corp. is a fully integrated, self-administered and self-managed real estate investment trust. The Trust is exclusively focused on owning and operating office buildings in Manhattan.

By Robert Cotter
rcotter@fnno.com

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