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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Simon Property Group, Inc (SPG) Technical Analysis
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| Summary:
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| | It was the negative week for the Simon Property Group, Inc (SPG). During the week, the SPG dropped -6.34 points, or -4.05%, and closed at 150.15 on Friday, April 5, 2024. Weekly volume was -21% below average.
SPG is a member of Real Estate Sector. Real Estate is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SPG long-term trend chart]
A long-term uptrend had started on September 26, 2022 at 86.02 and reached 157.82 on March 21, 2024. SPG gained -71.80 points, or -83.47%, in 77 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (111.99) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See SPG medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 102.11 and reached 157.82 on March 21, 2024. SPG gained -55.71 points, or -54.56%, in 24 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (151.48) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SPG may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See SPG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See SPG short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 157.82 and reached 147.42 on April 4, 2024. SPG lost 10.40 points, or 6.59%, in 14 days. The price is now at the 26.25% retracement level.
 Daily Technical Indicators: [See SPG daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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