Happy Monday –
We have some good opportunities to start this week off. Of course there is quite a bit of turbulence in the markets right now. The choices for Monday are not likely to be overly effected by current news.
SPG – Simon Property Group
Simon Property Group has been in a substantive bear move since Q3 2016. We have seen throughout 2017 a very nice consolidation between $150 and $175. We are currently testing support in the mid $150’s but over the next month we can are likely to see a sharp move back to consolidation highs. This will be a stock you just might want to keep an eye on as SPG offers a huge potential upside with very little risk of another move pushing lower.
TGT – Target
Target is a very excited opportunity. We have both a potential long and short. We have just tested resistance at about $78.50 and began to pull back. Applying the Fibonacci Retracement you can see we have the 38% level well within reach. If we begin to show the weakness I am going to target $65 as profit. However, if we start to show continued strength from the current zone we will be looking at $85 as our long target.