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Simon Property (SPG) Approaches New Downside Target of $184.16

By Amy Schwartz

Shares of Simon Property (NYSE:SPG) have bearishly opened below the pivot of $185.36 today and have reached the first support level of $184.69. Investors may be interested in a cross of the next downside pivot targets of $184.16 and $182.95.

Potential upside of 0.0% exists for Simon Property, based on a current level of $0.00 and analysts' average consensus price target of $182.95. The stock should find initial resistance at its 200-day moving average (MA) of $164.29 and further resistance at its 50-day MA of $176.68.

Over the past year, Simon Propertyhas traded in a range of $0.00 to $186.03 and are now at $0.00. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

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 19.1%. We continue to monitor SPG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts simon property

Ticker(s): SPG