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Simon Property: The Winning Streak Continues (SPG)

By David Diaz

Simon Property (NYSE:SPG) traded today at a new 52-week high of $186.00. So far today approximately 130,000 shares have been exchanged, as compared to an average 30-day volume of 1.3 million shares.

Over the past year, Simon Property has traded in a range of $145.78 to $186.00 and is now at $185.52, 27% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Simon Property Group, Inc. is a self-administered and self-managed, real estate investment trust. The Company owns, develops, and manages retail real estate properties including regional malls, outlet centers, community/lifestyle centers, and international properties. Simon Property Group serves customers in the State of Indiana.

Simon Property (NYSE:SPG) defies analysts with a current price ($185.52) 1.4% above its average consensus price target of $182.95. The stock should find initial support at its 50-day moving average (MA) of $176.40 and further support at its 200-day MA of $164.15.

SmarTrend recommended that subscribers consider buying shares of Simon Property on April 30th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $155.48. Since that recommendation, shares of Simon Property have risen 19.0%. We continue to monitor SPG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows simon property

Ticker(s): SPG