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Simon Property (SPG) Crosses Pivot Point Resistance at $57.88

By Shiri Gupta

Shares of Simon Property (NYSE:SPG) have bullishly opened above the pivot of $56.74 today and have reached the first resistance level of $57.88. Should the shares continue to rise, the resistance pivots of $58.81 and $60.88 will be of interest.

Simon Property (NYSE:SPG) has potential upside of 212.2% based on a current price of $58.60 and analysts' consensus price target of $182.95. Simon Property shares should first meet resistance at the 50-day moving average (MA) of $67.71 and find additional resistance at the 200-day MA of $128.36.

Over the past year, Simon Property has traded in a range of $42.25 to $177.93 and is now at $58.60, 39% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 5.9%.

SmarTrend is tracking the current trend status for Simon Property and will alert subscribers who have SPG in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts simon property

Ticker(s): SPG