SLG: Rounding Bottom detected on 7 Jul 2026

SLG is forming a rounding bottom pattern with a structure score of 14.0 and breakout score of 13.0, indicating solid pattern definition. The stock sits at $51.54, near the key resistance level of $54.96, with strong support at $33.80. The overall pattern score of 65.0 reflects moderate quality, supported by a win probability of 64.72%. Volume remains subdued at 0.87x average with the MACD histogram positive at 0.0182, suggesting building momentum. RSI at 60 indicates room for upside movement without overbought conditions. The position 52.49% above the 52-week low and 18.82% below the 52-week high shows the stock is in recovery mode.

SLG achieved the largest first-quarter leasing in its 28-year history, signing 51 leases totaling 930,000 square feet with a 16% increase in mark-to-market rents. The vacancy rate for Trophy buildings dropped to 3.4%, indicating strong demand in the prime office market. The company provided FY 2026 EPS guidance of 4.40-4.70, a significant upgrade from consensus estimates. SLG entered a contract to sell the residential and retail components of 7 Dey Street for $222.6 million, with the transaction expected to close in Q2 2026. However, insider trading shows 3 sales and 0 purchases in the past 6 months, with CEO Marc Holliday selling 22,223 shares. Q2 2026 earnings are scheduled for July 22, 2026, just 15 days away, creating near-term event risk.

A successful rounding bottom breakout would involve sustained price movement above the $54.96 resistance level, targeting the conservative measured move of $53.77—though this target appears conservative given the upside potential above resistance. Strong leasing fundamentals with a 3.4% vacancy rate support breakout confirmation. The pattern suggests volume confirmation is critical; current volume at 0.87x average indicates the breakout needs to be accompanied by above-average participation to be convincing. Invalidation occurs below $33.80, representing a 34% loss from current levels. The 64.72% win probability indicates slightly better-than-even odds, but execution matters significantly at resistance.

Insider selling pressure is notable with 3 insider sales in the past 6 months including CEO stock dispositions. Short interest is elevated at a moderate level, which can contribute to sharper swings around events. Q2 earnings release on July 22, 2026 is imminent, creating near-term volatility risk as the market reassesses guidance against improving leasing trends. High interest costs may impact cash flow and dividend payouts despite strong leasing activity. The beta of 1.28 indicates elevated volatility relative to the broad market. Economic occupancy remains below annual targets, suggesting execution risk on achieving full portfolio utilization, which could dampen enthusiasm post-earnings.

We scan more than 6,000 NYSE and NASDAQ stocks every trading day and compare each detected pattern against a database of 370,000+ historical detections. Every setup is scored across three dimensions: Structure, Volume, and Breakout Readiness. Win probability is a calibrated estimate of how similar historical setups performed over the following 10 trading days. This is a swing trading tool built for multi-day holds. It is not built or tested for day trading.