Bullish mood lifts JBG SMITH to session high of $15.23

Yesterday at a glance: JBG SMITH rallied 3.79% and ended the session at $15.08.

Meanwhile, United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -1.71 million, while the previous figure was 5.20 million.

JBG SMITH Properties made an initial breakout above its 21 day Simple Moving Average at $14.62, a potential indicator of a newly emerging bullish phase. JBG SMITH formed a session range of $14.5 to $15.23 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $14.62. On the other hand, note that JBG SMITH is 30 cents away from testing key resistance at $15.38. Peaking above this level could inspire market bulls and open the path to further gains.

Overall, looking at the technical analysis landscape, it seems JBG SMITH might continue pointing upwards in the short term.

This rally in JBG SMITH's share price coincided with other real estate stocks as ProLogis traded at $125.83 after closing yesterday's trading day at $124.63 (up 0.96%).

Furthermore, the market is looking at today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 1.15 million from the preceding figure of 4.49 million. Projections for United States Initial Jobless Claims are set for a continuation of decline with 238,000 while previous data was 232,000; data will be released tomorrow at 12:30 UTC.

Over the past a year, the mixed-use property REIT has retreated 45.92% from a noteworthy peak of $26.87.