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Simon Property Group, Inc.Simon Property Group, Inc.Simon Property Group, Inc.

Simon Property Group, Inc.

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SPG trade ideas

Big Breakout Level On Watch For $SPGInvestors should be watching the price action on Simon Property Group Inc (NYSE:SPG). Any stock trading close above $188.25 triggers a dual trend line breakout. That is when investors should buy. Take a look at the stock chart below. Simon Property Group Inc has been chopping sideways for the last three months. Multiple times it has tested the $188.25 level, each time falling back down. The fact that this price point has been tested multiple times, signals that it is a major level. Once it breaks, there is significant upside to $200.00 within days, further after that. View every trade I take right here: verifiedinvesting.com
NYSE:SPG
by jenny_rebekka
SPG closes just above $200SPG caught my eye yesterday morning with 14th January's bullish bar on the breakout (and with higher volume). But it was trading below $200 so I passed it by. However, during the day price traded just above $200 ($200.42) so there could be continued strength to the upside. This is supported by the cup and handle pattern which formed below the May 2013 pivot high. And the subsequent breakout retested this resistance-turned-support with a bullish flag and price continued higher. As $200 can be a strong psychological resistance I would want another retest/pullback before considering a long position on this stock. With earnings due 30th January this may not take place with a enough time to benefit from the current move. But SPG can definitely go on the watchtlist.
NYSE:SPGLong
by iAnneTrader
1