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Trading Higher on Heavy Volume are Shares of Cedar Shopping Centers on 1.3x Above-Average Volume (CDR)

Published on Wed, 10/16/2013 - 13:33
By Peter Chu

Cedar Shopping Centers's stock is up 0.9% to $5.48 on heavy trading volume. About 399,000 shares have been traded today, as compared to the 30-day average volume of 305,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Cedar Shopping Centers (NYSE:CDR) has potential upside of 20.9% based on a current price of $5.48 and analysts' consensus price target of $6.62. Cedar Shopping Centers shares should encounter resistance at the 200-day moving average (MA) of $5.60 and support at the 50-day MA of $5.14.

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 share prices have moved between a 52-week high of $6.83 and a 52-week low of $4.60 and are now trading 19% above that low price at $5.48 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

By Peter Chu