BOSTON PROPERTIES INC is showing promising signs of setting up for a breakout.

Our stock screener has spotted BOSTON PROPERTIES INC (NYSE:BXP) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:BXP.

Technical Analysis Observations

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 8 out of 10 to BXP. Although BXP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• The long and short term trends are both positive. This is looking good!
• BXP is part of the Diversified REITs industry. There are 134 other stocks in this industry. BXP outperforms 70% of them.
• In the last month BXP has a been trading in the 62.36 - 67.75 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• When compared to the yearly performance of all other stocks, BXP outperforms 64% of them, which is more or less in line with the market.
• BXP is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BXP is lagging the market slightly.

Check the latest full technical report of BXP for a complete technical analysis.

How does the Setup look for NYSE:BXP

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:BXP scores a 9 out of 10:

Besides having an excellent technical rating, BXP also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 65.74. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 65.28, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:BXP 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.

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.

Disclaimer

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.