Shares Nearing 52-Week High: EastGroup Properties, Inc. (NYSE:EGP)

Shares of EastGroup Properties, Inc. (NYSE:EGP) have been seen trading near 52-week highs recently. Investors may be watching how the stock price reacts as it approaches this level. At the time of writing, company shares had recently hit 112.71. At this level, shares are noted trading -1.41% away from the 52-week high mark. Investors will be curious to see if the stock can maintain momentum after breaking the 52-week high or if the level is merely breached and there is a pullback. Traders and investors might have to make the decision whether to lock in current profits, or hold on for a further push higher.

Stock market investing can sometimes cause investors heads to spin. Following stocks on a daily basis, it is plain to see the amount of coverage that follows certain companies. This non-stop barrage of information may eventually become overwhelming for the novice investor. Filtering through all the data may involve taking a look at a company or stock from multiple angles. There are many investors out there that preach strictly following fundamental data. There are others that swear by the technical analysis. Many investors will opt to employ a research strategy that involves pieces of the two approaches. Knowing every little detail about a company may not be overly necessary, but it may help provide a bit more direction when navigating the stock market maze. Investors who put in the time to study all the fundamentals may want to also start watching the charts on stock that they are thinking about adding to the portfolio. Making sure that no stone is left unturned when examining a stock may end up being the difference between a big winner and a big loser.

Investors may also be paying close attention to some simple moving average indicators on shares of EastGroup Properties, Inc. (NYSE:EGP). The moving average uses the sum of all of the previous closing prices over a certain time period and divides the result by the number of prices used in the calculation. Many investors will opt to use multiple time periods when examining moving averages. Recently, company shares have been recorded trading 1.18% away from the 20-day moving average. Pushing out to the 50-day, we can see that shares are currently trading 3.69% off of that number. Zooming out to the 200-day moving average, shares have been trading 13.43% away from that value.

EastGroup Properties, Inc. (NYSE:EGP) shares currently have a consensus recommendation of 2.70. This rating uses a scale from 1 to 5. A recommendation of 1 or 2 would represent a consensus Buy. A rating of 4 or 5 would indicate a consensus Sell. A rating of 3 would signify a consensus Hold recommendation. Investors often follow the opinions of sell-side analysts offering target prices on the stock. The consensus target price for the stock is presently $107.91.

With the stock nearing 52-week highs, investors may be trying to project the price action over the next few months. Taking a look back at some historical performance numbers for EastGroup Properties, Inc. (NYSE:EGP), we can see that shares are 1.36% over the last week. For the last month, company shares are 1.53%. For the last quarter, the stock has performed 19.92%. Watching recent volatility levels, we can see that shares have been recorded at 1.54% for the week, and 1.58% for the last month. If we look back year-to-date, the stock has performed 22.87%. Over the past full-year, shares have performed 37.60%.

The stock currently has a beta value of 0.87. Beta can be useful to gauge stock price volatility in relation to the broader market. A beta of 1 may show that the stock price moves with the market. A beta under 1 might indicate that the stock is less volatile than the market. A beta over 1 indicates that the stock price is more volatile than the market in theory.

Traders may be using technical analysis to help spot ideal entry and exit points. One idea behind technical analysis is that historical price movement trends have the ability to repeat themselves. Technical analysis involves the use of chart patterns to examine market movements and to help define trends. Trends in the stock market are not always easy to spot. Many chartists will strive to determine whether the trend is up, down, or sideways. After defining a trend, the technical analyst may look to see what type of timeframe the trend encompasses. Some traders will look to identify whether the trend is major or long-term, short-term, or intermediate. Being able to decipher what the data is saying may assist the trader with finding potential entry and exit points on a particular trade. There are many different indicators that can be employed when undertaking technical analysis. Many traders will do numerous chart studies to find out which indicator or indicators tend to project the most relevant trading assistance. Learning how to spot these trends might help the trader develop specific charting skills that will hopefully lead to future market success.

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