The mixed-use property REIT is sliding down from $19.37 to $19.05, taking a 1.65% loss as it nears the end of the session.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. After descending below strong Fibonacci support at $19.1, market bears have earmarked $18.87 as the next downside target. JBG SMITH has just crossed the lower Bollinger Band® at $19.11, indicating further losses could be forthcoming. JBG SMITH could begin to recover as it approaches significant support, now 6 cents away from $19.11. Dipping below could be an indication that further losses are ahead.
Looking forward, JBG SMITH is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other real estate stocks as ProLogis is down to $111.62, losing 0.55%, after ending Friday at $112.24.
Furthermore, United States Building Permits (Nov) is scheduled for tomorrow at 13:30 UTC.
The US REIT has fallen back around 37.03% from the significant high of $30.76 set 11 months ago.