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March 14, 2023
JBG SMITH is down to $15.15, after ending yesterday at $15.55. Overall, a 2.57% loss or 40 cents today.
While price action maintains a negative bias, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
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.
Looking forward, JBG SMITH is poised to extend its strong downtrend and continue declining.
Positive performances can be seen by looking at other real estate stocks as ProLogis is trading at $119.43 after ending yesterday's session at $118.37 (up 0.9%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of 3%. United States Core Retail Sales expected to decline to -0.1% while its preceding data was 2.3%, data will be available tomorrow at 12:30 UTC. United States Producer Price Index projected to come out at 0.3% — worse than previous data of 0.7%; data will be released tomorrow at 12:30 UTC.
Trending downwards for around a month. The US REIT has shed 22.52% over the past three months.
