SPG meets all the checklist conditions for CUE Headwind Long Trade (a reversal trade type).
It also has a False Downside Breakout.
Several companies in this group are up today. Real Estate Services Industry is gaining strength.
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Investors should be watching the price action on Simon Property Group Inc (NYSE:SPG). Any stock trading close above $188.25 triggers a dual trend line breakout. That is when investors should buy. Take a look at the stock chart below. Simon Property Group Inc has been chopping sideways for the last three months. Multiple times it has tested the $188.25 level, each...
We had a very good option trade with SPG & now it seems getting ready for another fall. It is breaking down from longer term upward channel & the target could be as low as 153
To trade this we would consider $180 April puts currently $11.85
You can check our detailed analysis on SPG in the trading room/ Executive summary link here-
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Time Span:...
SPG breaking down a upward channel & could not show upward strength recently. Also a lot of insider selling in the Retail REIT sector.
We think it will break down now & our target is $182
On the option side we are looking for Jan2017 $210 put which trading for $10
You can check our detailed analysis on SPG in the trading room/ Executive summary link...
SPG caught my eye yesterday morning with 14th January's bullish bar on the breakout (and with higher volume). But it was trading below $200 so I passed it by.
However, during the day price traded just above $200 ($200.42) so there could be continued strength to the upside. This is supported by the cup and handle pattern which formed below the May 2013 pivot high....
