The question on everyone's mind: Will HIGHWOODS PROPERTIES INC breakout?

We've identified HIGHWOODS PROPERTIES INC (NYSE:HIW) 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:HIW for further developments.

Insights from Technical Analysis

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, HIW scores 8 out of 10 in our technical rating. Although HIW is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• HIW is one of the better performing stocks in the Diversified REITs industry, it outperforms 80% of 128 stocks in the same industry.
• When comparing the performance of all stocks over the past year, HIW turns out to be only a medium performer in the overall market: it outperformed 69% of all stocks.
• HIW is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so HIW is lagging the market.
• In the last month HIW has a been trading in the 21.46 - 24.84 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

How do we evaluate the setup for NYSE:HIW?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:HIW has a 9 as its setup rating, indicating its current consolidation status.

HIW has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. 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 23.85. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HIW in the last couple of days, which is a good sign.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.