Simon Property Group Inc Stock Forecast
Simon Property Group Inc stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The Simon Property Group Inc stock price gained 0.84% on the last trading day (Thursday, 2nd May 2024), rising from $140.18 to $141.36. During the last trading day the stock fluctuated 1.89% from a day low at $139.36 to a day high of $141.99. The price has been going up and down for this period, and there has been a 0.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 579 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $216.31 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $140.11 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.66% during the next 3 months and, with a 90% probability hold a price between $136.39 and $150.72 at the end of this 3-month period.
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SPG Signals & Forecast
There are mixed signals in the stock today. The Simon Property Group Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $142.11 and $147.33. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Simon Property Group Inc stock
Simon Property Group Inc finds support from accumulated volume at $140.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.63 (1.89%) between high and low. For the last week, the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: $133.08 (-5.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SPG) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Simon Property Group Inc to open at $140.90, and during the day (based on 14 day Average True Range), to move between $138.38 and $144.34, which gives a possible trading interval of +/-$2.98 (+/-2.11%) up or down from last closing price. If Simon Property Group Inc takes out the full calculated possible swing range there will be an estimated 4.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $140.53 (0.59%) than the resistance at $143.39 (1.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Simon Property Group Inc will release earnings AMC on Monday, May 06, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.80. We will update the financials statements for Simon Property Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.65% in the first trading day after earnings release.
Is Simon Property Group Inc stock A Buy?
Simon Property Group Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.950 Hold/Accumulate Upgraded
Predicted Opening Price for Simon Property Group Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $140.90 ( 0.323%) | $141.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 143.53 | 1.54 % | |
| R2 | 142.53 | 0.83 % | ||
| R1 | 141.91 | 0.388 % | ||
| Current price: | 141.36 | |||
| Support | S1 | 139.90 | -1.03 % | |
| S2 | 139.28 | -1.47 % | ||
| S3 | 138.27 | -2.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 149.86 | 6.01 % | |
| R2 | 149.70 | 5.90 % | ||
| R1 | 143.39 | 1.44 % | ||
| Current price | 141.36 | |||
| Support | S1 | 140.53 | -0.587% | |
| S2 | 140.35 | -0.714% | ||
| S3 | 136.79 | -3.23% |
SPG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 05, 2024 | Mar 07, 2024 | Mar 29, 2024 | $1.95 | 1.25% |
| 2 | Oct 30, 2023 | Dec 07, 2023 | Dec 29, 2023 | $1.90 | 1.33% |
| 3 | Aug 02, 2023 | Sep 07, 2023 | Sep 29, 2023 | $1.90 | 1.76% |
| 4 | May 02, 2023 | Jun 08, 2023 | Jun 30, 2023 | $1.85 | 1.60% |
| 5 | Feb 06, 2023 | Mar 09, 2023 | Mar 31, 2023 | $1.80 | 1.61% |
FAQ
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