Boston Properties, Inc. or BXP in the New York Stock Exchange owns and develops office properties in the United States. Chart-wise, their stocks had been moving in a 1-year uptrend and from my last post about it (kindly click here to see my previous entry), it successfully bounced off its trend line and avoided a breakdown. However, the Asian markets were down by more than 1% during earlier’s trading session. The European markets and the US market’s futures are also pointed downwards. In that case, BXP stocks are more likely to break below it’s uptrend today. In case it does, the price could be pushed lower to the $70.00-71.00 support levels. If those price marks still don’t hold on, the next support could be $61.50. On the upside, if Boston Properties, Inc. bounces back up, it could aim for the current resistance. Once that hurdle is cleared out, the next resistance could be the 1-year high at $83.42. For the mean time, as long as the uptrend remains intact, the stocks could be headed north.
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