By Mill Chart
Last update: Sep 21, 2023
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.
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.
Check the latest full technical report of BXP for a complete technical analysis.
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.
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.
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.
BOSTON PROPERTIES INC
NYSE:BXP (12/8/2023, 7:04:01 PM)After market: 64.08 0 (0%)
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BXP sells 45% interest in Kendall Square properties to Norges Bank Investment, reducing future spending by $533.5M.
Boston Properties reports strong Q3 results, beating FFO and revenue estimates. Full-year guidance for EPS and FFO is slightly below consensus.