MTY Update WeeklySymmetrical Triangle.
Resistance is $55 atm.
Long term can be beneficial although a little bearish at the moment.
Hugh upside value when restaurants and malls open again.
Can be a good long term play.
Short term targets of 55, 60, 65 if we can keep a bullish momentum.
Earnings can cause bearish activity.
A suggested SL can be $48.
Malls
SPG - Clothes, Food Court, Window Shopping...its all coming backAmerica will open back up soon. Several states already open, like Texas and Georgia. Many more states will open next week.
What will people do when things are open again? Go shopping! C'mon, everyone loves the Mall - clothes, games, food!
We all miss that stuff and guess what, SPG owns most of the malls in USA. When news hits that ALL malls are open in USA, what do you think will happen to this stock?
Position: MAY 15 - Entry - Long 200 shares SPG @ 51.27