By Mill Chart
Last update: Mar 19, 2024
We've identified SL GREEN REALTY CORP (NYSE:SLG) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:SLG for further developments.
ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.
Taking everything into account, SLG scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SLG is showing a nice and steady performance.
Check the latest full technical report of SLG for a complete technical analysis.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:SLG this score is currently 10:
SLG has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 51.77. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 49.35, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for SLG in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
SL GREEN REALTY CORP
NYSE:SLG (4/18/2024, 7:20:26 PM)
Premarket: 48.38 -0.14 (-0.29%)48.52
-1.15 (-2.32%)
SLG stock results show that SL Green Realty beat analyst estimates for earnings per share but missed on revenue for the first quarter of 2024.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips SL Green Realty (NYSE:SLG) just reported results for the first quarter of 2024....
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NEW YORK, March 15, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE:SLG), Manhattan’s largest office landlord, today announced that its board of directors has declared a monthly ordinary dividend of $0.25 per share of common stock, which is the equivalent of an annualized dividend of $3.00 per share. The dividend is payable in cash on April 15, 2024 to shareholders of record at the close of business on March 29, 2024.