Simon Property Group Rises 2.03% As Buyers Defend Key Support At 160.50

Simon Property Group (SPG) closed at $163.94 on August 4, 2025, gaining 2.03% on moderate volume of 1.84 million shares. The session established a low at $160.50 and reached a high of $165.22, recovering from the prior session's downturn.
Candlestick Theory
The August 4 candle exhibits a bullish hammer pattern, characterized by a long lower shadow ($160.50 low) and close near the session high ($163.94), signaling rejection of lower prices following the August 1 dip to $159.70. This pattern occurred near the key support zone of $160.50–$161.00, now confirmed as a technical floor. Resistance is crystallizing at $165.22 (August 4 high) and the pivotal $168.72 swing high from July 30. The recovery from $160.50 suggests buyers are defending this level, but sustained momentum requires clearance above $165.22.
Moving Average Theory
The 50-day moving average (MA) at $162.50, 100-day MA at $161.80, and 200-day MA at $157.20 collectively illustrate a bullish structure. SPG’s price remains above all three MAs, reinforcing the primary uptrend. Notably, the 50-day MA maintains its position above the 100-day and 200-day MAs, while the 100-day MA trades above the 200-day MA—a configuration supporting intermediate-term strength. The August 1 dip to $159.70 briefly breached the 100-day MA but attracted swift buying, validating it as dynamic support. A "golden cross" formation (50-day crossing above 200-day in June 2025) remains intact, favoring bullish momentum.
MACD & KDJ Indicators
The MACD histogram turned positive on August 4 after a bullish crossover, with the MACD line (short-term) rising above the signal line. This shift suggests building upward momentum after the July 30–August 1 correction. KDJ readings show the K-line at 45 and D-line at 40, exiting oversold territory (recently near 20) without yet reaching overbought conditions. This alignment indicates recovering bullish momentum but lacks overextension signals. Divergence is absent, as both oscillators align with the price rebound from $160.50.
Bollinger Bands
Bollinger Bands (20-day, 2σ) have contracted sharply, indicating subdued volatility following the July 30–August 1 pullback. Price action on August 4 closed near the upper band ($165.50), testing this boundary as resistance. The squeeze reflects a coiled volatility environment, often preceding directional breaks. Given the recovery from the lower band ($160.50 support) and MACD bullishness, an upside resolution toward $165.50–$166.00 appears probable if volume supports the move.
Volume-Price Relationship
Volume patterns lend credence to the $160.50 support. The August 1 sell-off to $159.70 occurred on elevated volume (2.15 million shares), suggesting capitulation. Subsequent buying on August 4 (1.84 million shares) surpassed the 30-day average volume, confirming conviction in the rebound. However, volume on up days since late July has generally been lower than on down days, warranting caution about trend sustainability. A breakout above $165.22 with volume exceeding 2.2 million shares would validate bullish momentum.
Relative Strength Index (RSI)
The 14-day RSI reading of 58 as of August 4 resides in neutral territory, recovering from a near-oversold level of 31 on August 1. This rebound without entering oversold (<30) territory underscores underlying strength. While RSI does not show divergence from price action, its neutral position allows room for further upside. Traders should note that RSI’s warning value diminishes when trends are strong, and SPG’s primary trend remains bullish.
Fibonacci Retracement
Applying Fibonacci retracement to the recent swing from the May 23 low of $156.77 to the July 30 high of $168.72 reveals key levels. The August 1 dip to $160.50 breached the 61.8% retracement ($161.33), nearly testing the 78.6% level ($158.50). The subsequent bounce aligns with Fibonacci principles, as deep retracements often precede reversals. Confluence exists near $165.90 (23.6% retracement), which now serves as initial resistance. A close above this level would target the 0% retracement at $168.72. The 50% retracement at $162.75 coincides with the 50-day MA, amplifying its role as support.