One of the big reasons people own SPG is for their dividend but with the recent news, there could be up to a 50% cut. In the video below I go over the setups for the Simon Property Group’s stock from the section above because it is sometimes easier to see what I am trying to explain through a quick video. Simon Property Group long SPG Stock Price – Video Review Gaps love to be filled so keep that in mind there are a couple to be filled to the upside so that could be a magnet to help move the price upwards. It doesn’t guarantee it but is one of the factors I look for in a trade. This is a good barometer to see if the price could be at a turning point which it may be. The shorts will have taken over.īut if the price can hold without going too far under $60 then this long setup remains valid.Īlso, note that the Money Flow Index (MFI) is coming out of the oversold area. This setup would become null if the price continues to move down to around $52.00 because then the 61.8% Fibonacci level would be too beat up to consider that a level that held. The current target for this setup is $110.09. It was triggered when the price hit the 38% Fibonacci retracement level and found support at the 61.8% level. In the picture below we are looking at a long setup for the Simon Property Group. So this is a valid short setup on the daily time frame that the SPG stock is currently located. If the price does go down and hit the price target of $8.52 then the Simon Property Group has a lot bigger issues going on. Since then the price has moved back down and is currently sitting at $68.93. When the price does this then this locks in a potential short setup. You can see how the price came back up and retraced to the 38.2% Fibonacci retracement line. In the picture below we are looking at a short setup using the daily time frame. What I mean by that is if I would purchase the stock so please don’t take this as professional financial advice because it is only my opinion on how I trade. The Simon Property Group stock has a couple of technical setups that it is currently in and I will list them below.Īfter I list the setups then in the conclusion part of this article I will give my opinion on if I think this stock would be worth considering. Simon Property Group Simon Property Group Technical Analysis At the time of this writing, I do not currently own SPG and do not plan to do so in the next 48 hours. In this blog post, I will look at their stock using the technical analysis I use to trade. That is a key component I will touch on in the conclusion section of this article because it does impact how I view the stock. Notice how the Money Flow Index (MFI) is coming out of being oversold. Since then it has been a really rocky ride for Simon Property Group’s stock price. As you can see it had a very nice run up from March 2009 to July 2016. Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.īelow is their chart for the life cycle of their stock. Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Here is how they describe themselves from their website : During the Coronavirus, they obviously have been getting worked over in their stock price due to the closure of virtually every mall. They are in the real estate business, specifically commercial real estate such as malls. All Rights Reserved.Simon Property Group (SPG) is a company whose stock has taken a severe beating the past couple of years. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
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