JBG SMITH displays further gains following a recent trend of 3 days and 95 cents. Heading in the same direction for now — small gain for JBG SMITH at $20.7 after ranging between $20.58 and $21.09 today.
JBG SMITH is currently trading at $20.7 following the release of ISM Manufacturing PMI (Nov) data from the United States.
JBG SMITH's uptick comes amid good United States macroeconomic data released during the day — United States Initial Jobless Claims beat analyst expectations of 235,000 and the previous reading of 241,000 with new data of 225,000.
Meanwhile, United States ISM Manufacturing PMI (Nov) released today at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.
Chart analysis indicates although JBG SMITH Properties is appreciating today after rising as high as $21.09, price action is now slowing and consolidating around 51 cents below the $21.21 resistance level. Trend analysis indicates that investors are seeking long positions as JBG SMITH price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $20.69, thereby suggesting that JBG SMITH is becoming overvalued.
Notwithstanding JBG SMITH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
While JBG SMITH is higher so far today, these real estate stocks are struggling: ProLogis is down to $117.11, losing 0.58%, after ending yesterday at $117.79.
Also worthy of note, United States Non Farm Payrolls projected to decline to 200,000 while previous data was 261,000; data will be released tomorrow at 13:30 UTC.
Elsewhere, United States Unemployment Rate is expected tomorrow at 13:30 UTC.
JBG SMITH hit a significant low of $17.71 around a month ago, but has since recovered 16.37%.