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Possible Bullish Inside Day Candle Pattern Detected for Boston Propertie (NYSE:BXP)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Boston Propertie (NYSE:BXP) based on the price action in the company's shares. Yesterday's price range of $142.96 and $143.28 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Boston Propertie may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Boston Properties, Inc. operates as a real estate investment trust. The Company owns, manages, and develops office properties in the United States, with a significant presence in Boston, Washington, D.C., Midtown Manhattan, and San Francisco.

Boston Propertie (NYSE:BXP) is currently priced 6.4% above its average consensus analyst price target of $133.75. The stock should discover initial support at its 50-day moving average (MA) of $138.65 and subsequent support at its 200-day MA of $133.58.

In the past 52 weeks, Boston Propertie share prices have been bracketed by a low of $124.58 and a high of $146.07 and closed yesterday at $142.90, 15% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Boston Propertie and will alert subscribers who have BXP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle boston propertie

Ticker(s): BXP