Bullish Moving Average Cross by SL Green Realty (SLG)

Published on Tue, 08/11/2015 - 11:34
By Mallory Stone in Moving average crossovers, SLG, moving crosses, nyse:slg, sl green realty

SL Green Realty (NYSE:SLG) shares have crossed bullishly above their 10-day moving average of $114.40 on a volume of 154K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

SL Green Realty share prices have moved between a 52-week high of $135.81 and a 52-week low of $99.89 and are now trading 15% above that low price at $114.69 per share. The 200-day and 50-day moving averages have moved 0.04% higher and 0.31% lower over the past week, respectively.

SL Green Realty has overhead space with shares priced $114.69, or 10.3% below the average consensus analyst price target of $127.87. SL Green Realty shares should encounter resistance at the 200-day moving average (MA) of $121.25 and support at the 50-day MA of $114.53.

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 Mallory Stone
mstone@fnno.com

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