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lauralea
Jan 18, 2023 5:57 PM

Rising Wedge//Rectangle 

Simon Property Group, Inc.NYSE

Description

The latest trend up is traveling in a large Rising Wedge.

The pattern is not valid until the bottom line is broken. Neutral until the bearish rising wedge is broken.

Price is sitting above a rectangle and resting on the top trendline which is now support.
Some would measure the width of the rectangle and project is up and down from the 2 trendlines that bind price action.

Short interest is low at around 1.95%.

No recommendation

Comment

2-19
Price reached 100% of the target for the rectangle plus some/The bearish rising wedge persists and the bottom line has not been broken so it is not valid.

Comment

FFO (FWD)
12.02
P/FFO (FWD)
10.29
Div Rate (FWD)
$7.20
Yield (FWD)
5.82%
Short Interest
1.93%
Market Cap
46.28B

Comment

In some cases Rising Wedges can be a long term pattern until the break.
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