Traders officially love to sell BXP against 129.96 level
Boston Properties (BXP) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, BXP finished the week -0.12% lower at 128.94 after losing $0.37 (-0.29%) today on high volume. Today's closing price of 128.94 marks the lowest close since August 2nd. Closing below Thursday's low at 128.97, Boston Properties confirms its breakout through the previous session's low having traded $0.36 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (BXP as at Aug 10, 2018):
Friday's trading range was $1.35 (1.05%), that's slightly below last trading month's daily average range of $2.06. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being above average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.
The stock was sold again around 129.96 after having seen highs at 129.76, 130.01 and 130.05 in the last three trading sessions. Obviously there is something going on at that level.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 130.08 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 127.70 where further sell stops could get activated.