General Growth Properties (GGP) Spotted As Roof Leaker Today

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Trade-Ideas LLC identified General Growth Properties ( GGP) as a "roof leaker" (crossing below the 200-day simple moving average on higher than normal relative volume) candidate. In addition to specific proprietary factors, Trade-Ideas identified General Growth Properties as such a stock due to the following factors:

  • GGP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $108.9 million.
  • GGP has traded 4.7 million shares today.
  • GGP is trading at 1.92 times the normal volume for the stock at this time of day.
  • GGP crossed below its 200-day simple moving average.

'Roof Leaker' stocks are worth watching because trading stocks that begin to experience a breakdown can lead to potentially massive losses. Once psychological and technical resistance barriers like the 200-day moving average are breached on higher than normal relative volume, the stock may then be subject to emotional selling from investors that can continue to drive the stock lower. Regardless of the impetus behind the price and volume action, when a stock moves with weakness and volume it can indicate the start of a new, potentially dangerous, trend.

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More details on GGP:

General Growth Properties, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It engages in owning, managing, leasing, and redeveloping high-quality regional malls. General Growth Properties, Inc is based in Chicago, Illinois. The stock currently has a dividend yield of 2.4%. GGP has a PE ratio of 23.3. Currently there are 9 analysts that rate General Growth Properties a buy, no analysts rate it a sell, and 1 rates it a hold.

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