SPG declines to lowest close since July 30th
Simon Property Group Inc. (SPG) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
SPG finished the week -2.18% lower at 174.38 after losing $2.32 (-1.31%) today. Today's closing price of 174.38 marks the lowest close since July 30th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 174.83, the share confirms its breakout through the previous session's low having traded $0.98 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (SPG as at Aug 10, 2018):
Friday's trading range was $2.88 (1.63%), that's slightly below last trading month's daily average range of $2.99. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
Prices are trading close to a key support level at 172.97.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.