JBG SMITH bulls in charge as markets close for July 4th

Investors are currently sidelined due to the July 4th holiday but will return to their desks tomorrow. Looking back over the previous session yesterday: pronounced bullish sentiment in the market helped the US REIT to make a notable 4.92% gain yesterday, rising 74 cents and ultimately closing at $15.78.

Meanwhile, United States ISM Manufacturing PMI (Jun) released yesterday at 14:00 UTC with a figure of 46, while the previous figure was 46.9. United States ISM Manufacturing Employment (Jun) came out at 48.1, while a consensus of analysts was expecting 50.8. Fresh ISM Manufacturing Prices (Jun) data from United States came out at 41.8.

Technical chart analysis shows JBG SMITH Properties could be slowing down soon as it approaches resistance at $16.03. Of course, crossing it might suggest further gains are ahead. Price action overcame a known Fibonacci resistance level at $15.22 by around 55.74 cents with prices hammering out a $15.04 – $15.78 session range.

A look at other real estate stocks also showed bullish price action as ProLogis was up 0.99%.

The market is looking forward to the release of new data: United States FOMC Meeting Minutes will be released tomorrow at 18:00 UTC.

JBG SMITH hit a significant low of $13.58 around 11 days ago, but has since recovered 10.75%.