Simon Property Group Inc Stock Forecast
Simon Property Group Inc stock upgraded to Hold/Accumulate.
(Updated on Apr 19, 2024)
The Simon Property Group Inc stock price gained 0.0499% on the last trading day (Friday, 19th Apr 2024), rising from $140.37 to $140.44. During the last trading day the stock fluctuated 1.18% from a day low at $139.84 to a day high of $141.50. The price has fallen in 6 of the last 10 days and is down by -6.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 73 thousand more shares were traded than the day before. In total, 827 thousand shares were bought and sold for approximately $116.12 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $140.66. A reaction back to this level may hold a second chance to get out before further falls.
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SPG Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.0641%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $142.31 and $149.51. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Simon Property Group Inc stock
Simon Property Group Inc finds support from accumulated volume at $139.24 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.66 between high and low, or 1.18%. For the last week, the stock has had daily average volatility of 1.88%.
Simon Property Group Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $131.20 (-6.58%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (SPG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Simon Property Group Inc to open at $140.59, and during the day (based on 14 day Average True Range), to move between $137.45 and $143.43, which gives a possible trading interval of +/-$2.99 (+/-2.13%) 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 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $139.24 (0.85%) than the resistance at $143.39 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Simon Property Group Inc stock A Buy?
Simon Property Group Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.572 Hold/Accumulate Upgraded
Predicted Opening Price for Simon Property Group Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $140.59 ( 0.108%) | $140.44 |
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 | 142.25 | 1.29 % | |
| R2 | 141.61 | 0.84 % | ||
| R1 | 141.22 | 0.558 % | ||
| Current price: | 140.44 | |||
| Support | S1 | 139.96 | -0.342 % | |
| S2 | 139.57 | -0.620 % | ||
| S3 | 138.94 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 149.86 | 6.71 % | |
| R2 | 149.70 | 6.59 % | ||
| R1 | 143.39 | 2.10 % | ||
| Current price | 140.44 | |||
| Support | S1 | 139.24 | -0.85% | |
| S2 | 137.94 | -1.78% | ||
| S3 | 136.79 | -2.60% |
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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