Saul Centers, Inc. shares are consolidating after establishing a new high on $48.47, waiting for an uptrend confirmation. On Friday (January, 14) the NYSE:BFS closed in green on $47.09, 96 cent above the support level reached a day before. The continuation of the uptrend will depend on the ability of the price to break the 12-month high on $47.48. (based on the materials of the portfoliorunner.com – best trading signals for stock market)
An uptrend on Saul Centers, Inc. shares market began on May, 25, 2010 from the level $34.22. This stable upward movement was interrupted by a correction only once. Today the price is consolidating above the 64-day moving average (currently at $44.99) which moves up as well. This uptrend has already added about 40%to Saul Centers, Inc. market capitalization (about $870.08M).
The support line of an upcoming trend is above $47.60. Breaking below the level of $45.00 may lead to further price lowering down to this support. The level of the 64-day moving average can be considered a significant support level of the active trend as well.
Portfoliorunner will keep an eye on this asset to identify possible turn-around points or rapid up-moves.
Additional information: Saul Centers, Inc. (Saul Centers) operates as a real estate investment trust (REIT). The Company’s principal business activity is the ownership, management and development of income-producing properties. During the year ended December 31, 2009, the Company’s properties consisted of 47 operating shopping center properties, five office operating properties and four development properties.
