Taubman Centers, Inc. is a US real estate investment trust that invests primarily in shopping centers in the USA but also in Asia. Founded in 1950, the company is headquartered in Bloomfield Hills, Michigan. Below the company’s shares will be described from a technical perspective.
After the relative high at the beginning of the year, the Taubman Centers share showed weakness again. Since then, there has been a clear downward trend in the medium term. Currently the price is in the correction of the last downward movement and at the SMA 200, where the decision will be made whether the price will resume the downward movement.
Before engaging in the short direction, wait for a signal, such as a 1-2-3 in the subordinate trend size on an hourly basis (blue arrows). If, on a daily basis, a clear reversal bar should occur in the area of the last high point, this can also be used as an entry signal, whereby an entry below the SMA should be preferred.
The targets are in the price range from 51.50 USD to 45.50 USD (green zones). Should the price rise significantly and sustainably above USD 57.80, the short scenario should be avoided (red line).
Before trading, news in the environment and from the company must be taken into account. The overall market should be considered also.
Disclosure of potential conflicts of interest: The author/company is not invested in the securities or underlying assets discussed at the time of publication of this analysis.