BRIXMOR PROPERTY GROUP INC is setting up nicely for a breakout.

A possible breakout setup was detected on BRIXMOR PROPERTY GROUP INC (NYSE:BRX) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:BRX.

What is the technical picture of NYSE:BRX telling us.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to BRX. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BRX is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month BRX has a been trading in the 21.52 - 23.28 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When compared to the yearly performance of all other stocks, BRX outperforms 51% of them, which is more or less in line with the market.
• BRX is part of the Equity Real Estate Investment Trusts (REITs) industry. There are 217 other stocks in this industry, BRX did better than 66% of them.
• BRX is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

How does the Setup look for NYSE:BRX

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:BRX currently has a 9 as setup rating:

BRX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 22.81. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.57, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BRX in the last couple of days, which is a good sign.

How can NYSE:BRX be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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