Today at a glance: pronounced bearish market sentiment ensured that the US REIT made a notable 2.48% loss today, declining 35 cents and ultimately closing at $13.74.
Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%. Data from United States concerning Producer Price Index was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0% to -0.5% this month.
JBG SMITH Properties's lower Bollinger Band® is at $13.51, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. JBG SMITH could begin to recover as it approaches significant support, now 22 cents away from $13.52. Dipping below could be an indication that further losses are ahead.
Technical analysis shows that JBG SMITH (currently on a downtrend) might reverse course and start going up in the short term.
JBG SMITH was not the only decliner in the real estate sector; ProLogis went down to $119.76, losing 1.77% after it closed at $121.92 today.
The mixed-use property REIT has shed 29.55% over the past three months.
