Simon Property Group Inc (SPG): Price Now Near $114.62; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for SPG

Currently, SPG (Get Ratings)’s price is up $0.42 (0.36%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

SPG’s Technical Outlook on the Daily Chart

Currently, SPG’s price is up $0.91 (0.8%) from the day prior. This is the 2nd day in a row SPG has seen its price head up. As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows SPG’s price action over the past 90 days.

SPG

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