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TMCNet:  Watch for Shares of Simon Property (SPG) to Approach Support at $152.89

[November 09, 2012]

Watch for Shares of Simon Property (SPG) to Approach Support at $152.89

Nov 09, 2012 (SmarTrend(R) News Watch via COMTEX) -- Simon Property (NYSE:SPG) has opened bearishly below the pivot of $154.80 today and has reached the first level of support at $153.52. Analysts will be watching for a cross of the next downside pivot targets of $152.89 and $150.98.


In the past 52 weeks, shares of Simon Property have traded between a low of $115.21 and a high of $164.17 and are now at $152.90, which is 33% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.17% lower over the past week, respectively.

Potential upside of 6.8% exists for Simon Property, based on a current level of $152.90 and analysts' average consensus price target of $163.33. The stock should find resistance at its 50-day moving average (MA) of $155.25, as well as support at its 200-day MA of $149.94.

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.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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