SPG analysis
1. Broke out of the downstrend since Oct.6th. (Orange line)
2. 200 MA has been a resistance level, marking the top on Oct. 23rd. Today the test of 200MA seems to have failed -- see the increased volume drop in the last trading hours.
3. Going forward, expect price to retest the green line, around $64(-1.36% downside), and rebound. If SPG manages to keep the current uptrend and break through the 200MA, next resistance is at 67.69(4.17% upside)
Good luck trading!
2. 200 MA has been a resistance level, marking the top on Oct. 23rd. Today the test of 200MA seems to have failed -- see the increased volume drop in the last trading hours.
3. Going forward, expect price to retest the green line, around $64(-1.36% downside), and rebound. If SPG manages to keep the current uptrend and break through the 200MA, next resistance is at 67.69(4.17% upside)
Good luck trading!
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