SPG (Simon Property Group) may or may not need another thrust down within this bullish falling wedge pattern before breaking out above the pattern. This REIT is on watch as a potential Swing Trade + Growth & IncomeTrade with an entry trigger TBD although I wanted to pass along the idea in advance for those interested. Daily chart below:
Should the technical posture of this weekly chart continue to firm up, SPG will likely rally up to at least the 171.40ish level in the coming months. With a current dividend yield of 5.18%, SPG has potential as as Growth & Income Trade idea.
Note: In the previous post on the CVS trade setup, the weekly chart was not included when the post was sent by email. It has since been added to that post & can be view on the site.