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Downtrend Broken Resist.Archive - 4/19/2024 - Sign In to see current Signals. |
Simon Property Group, Inc (SPG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Simon Property Group, Inc (SPG). During the week, the SPG dropped -4.37 points, or -3.02%, and closed at 140.44 on Friday, April 19, 2024. Weekly volume was -21% below average. SPG is a member of Real Estate Sector. Real Estate is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See SPG long-term trend chart] A long-term uptrend had started on September 26, 2022 at 86.02 and reached 157.82 on March 21, 2024. SPG gained -71.80 points, or -83.47%, in 77 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (112.65) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See SPG medium-term trend chart] A medium-term uptrend had started on May 25, 2023 at 100.17 and reached 157.82 on March 21, 2024. SPG gained -57.65 points, or -57.55%, in 43 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 105.10 and resistance is at 161.81. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See SPG weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is below its signal line since April 5, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help. Short-term trend: [See SPG short-term trend chart] A short-term uptrend had started on October 3, 2023 at 102.11 and reached 157.82 on March 21, 2024. SPG gained -55.71 points, or -54.56%, in 170 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (155.36) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SPG may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend. Daily Technical Indicators: [See SPG daily technical indicators chart] Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The daily MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is relatively high and getting bigger. During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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