Good divs would drive price - small correction and then longSPG provides rich dividends, still good financial health. In October we expect new stimulus pack, news on vaccine and divs. While price in triangle i expect small correction to bottom (senate would not vote for pack till mid october), after i would take long position
SPG trade ideas
Technical Analysis of SPG 11-13-20Price has made a retracement and is looking like it will go higher. Normally when there is a strong move to the upside (or downside) there is a retracement to retest previous levels and a popular way to measure those levels is to use what's called the Fibonacci sequence to find those levels. A very popular level of retracement is the 61.8% level and if you look at the lines, price hit it and bounced right off of it. It went to the 38.2% level which is another key level and has met resistance. If it breaks the 38.2% level then it will probably go higher or pause when it gets to the previous high. If it breaks the previous high then it will go up further until it reaches the line at the very top which is a resistance line from a larger time frame.
SPG earnings today 11/09 post marketSPG earnings today 11/09 post market
3rd Quarter September 2020
Consensus: $2.25
Revenue: $1.12 Billion
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SPG - more upside?Albeit with what seems a short squeeze, SPG broke above a couple months channel that had it locked up in sideways movement. I expect a small consolidation at this level and given that the vaccine news holds and that it posts progress from previous quarter, then it should be going to 100 very soon.
SPG analysis1. Broke out of the downstrend since Oct.6th. (Orange line)
2. 200 MA has been a resistance level, marking the top on Oct. 23rd. Today the test of 200MA seems to have failed -- see the increased volume drop in the last trading hours.
3. Going forward, expect price to retest the green line, around $64(-1.36% downside), and rebound. If SPG manages to keep the current uptrend and break through the 200MA, next resistance is at 67.69(4.17% upside)
Good luck trading!
Get in SPG while its cheap - if you have toNYSE:SPG mostly trading sideways after June. As a COVID recovery candidate, if you want to get in early, sell put strike $65 weekly for a premium around $250. Even if you get assigned, that brings your avg to $62.5, which is below the POC from fixed range volume and the buying spree on 8/10
ABC Bullish S triangle Falling WedgeFor dividend lovers. Symmetrical Triangles can go either way/up or down. I accidently put 96 but that should be right under B at 95.5. There is also a gap down there and R may be encountered
The short interest is high and the stock is volatile. I would buy on a pull back only. I bought this close to the bottom for the dividend and believe me, I have been through thick and thin, but held on
There are many, many folks who own this stock for many years just for the dividend and I do not think they will all disappear because there is a flu going around.
Not a stock for folks who are firmly entrenched in covid and think our world as we knew it is gone. If you wear a mask in your front yard or while driving your car, this is not the stock for you. STOR is not for you possibly either. Folks who are Covidees perhaps need to stick to online sales stocks and work at home stocks..dunno. The media will convince you that this flu is here to stay, but I think it will possibly disappear after November 3rd, or at least will no longer be the center of our world.
Not a recommendation...and only buy on a pull back
I feel strongly about the political aspects of Covid and am against the media using it as a weapon to "mask" us. I am in the medical profession and know better than thinking that wearing a mask will make me superwoman or protect me from infecting anyone else. I only wear a mask when forced to do so..and I do not like it then. Call me unpatriotic..or call me informed. I do not support defunding the police either. I am a conservative and I am proud of it (o:
$SPG is prepared for this move. a flight towards 80$$SPG cooked this move for a while, tremendous company with great assets that are COVID effected. people wont sit at home forever. possible collab with $AMZN - Amazon to convert JC Penny stores to pickup locations. perhaps Amazon stores? Perhaps a spinoff of WholeFoods? tremendous upside with little downside in my opinion.
if we break 70$ and re-test it's a go. be on the watch.
SPG, Neutral Option trading planThis is a none direction trading plan. It allows price going down 10%;
If Price stays above 60, This still could be a winning trade.
Try to win the Probability with risk/reward=1:1;
Sell Put Spread. Jan P65/55 Limit 4.88 (Delta=-0.13, Theta=-0.01)
Stop 57, when Trendline break;
Condition:
#1 Daily Trendline break
#2 Daily Demand Zone had been confirmed.
#3 8/10/2020 Earning - Breakaway Gap.
Entry 69
Stop 57; when Trendline break
Target: 94; risk/reward=1:2
To trade the stock only, the risk/reward ratio is not good.
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate consistently.