Bullish Signal for REIT Has Never Been Wrong

The security could extend its 12.1% nine-month lead

Digital Content Manager

Feb 22, 2023 at 8:00 AM

The shares of Simon Property Group Inc (NYSE:SPG) just brushed off a price-target hike from Truist Securities to $130 from $125, as they cool from a rally to their highest level since April. The security added 12.1% in the last nine months, though, and may soon extend that lead now that it is trading near a trendline with historically bullish implications.

Specifically, SPG is within one standard deviation of its 50-day moving average. Per Schaeffer's Senior Quantitative Analyst Rocky White's latest study, the security saw no fewer than five similar signals over the last three years, and was higher one month later each time, averaging a 13.1% gain. A comparable move from its current perch of $120.62 would have the security trading at a fresh 11-month peak of $136.41.

SPG 50 Day

Options are a solid route for those looking to weigh in on Simon Property Group stock's next moves, as they are attractively priced right now. This is per the security's Schaeffer's Volatility Index (SVI) of 23%, which is at the bottom off its 12-month range.

Follow @Schaeffers

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released!

Special Offers from Schaeffer's Trading Partners