The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Ascending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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Boston Properties (BXP) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is oversoldBullish Meeting Lines CandlestickBroken trend support lineThe period of low volatility of the stock price
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It was the negative week for the Boston Properties (BXP). During the week, the BXP dropped -1.34 points, or -2.10%, and closed at 62.60 on Friday, March 15, 2024. Weekly volume was -36% below average.

Long-term trend: [See BXP long-term trend chart]
A long-term downtrend had started on February 19, 2020 at 147.83 and reached 46.18 on March 24, 2023. BXP lost 101.65 points, or 68.76%, in 161 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 39.94 and resistance is at 115.50. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See BXP medium-term trend chart]
A medium-term downtrend had started on March 29, 2022 at 133.11 and reached 46.18 on March 24, 2023. BXP lost 86.93 points, or 65.31%, in 51 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (52.97) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See BXP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See BXP short-term trend chart]
A short-term uptrend had started on November 13, 2023 at 50.64 and reached 73.97 on December 14, 2023. BXP gained -23.33 points, or -46.07%, in 31 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (64.34) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. BXP may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.

Daily Technical Indicators: [See BXP daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since March 6, 2024. The distance between MACD and the signal line is low, but getting bigger.

The distance between the Bollinger Bands is falling, and it was 7.99% on Friday. It is 53.57% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Candlestick pattern: [See BXP candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.27
Williams' Percentage Range (W%R) 100.00
Strong Oversold
Lane's Stochastic (%D-Slow) 33.30
Greed/Fear Indicator (GFI) 25.53
Moving Average Converg./Diverg. (MACD) -0.72
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.69
Williams' Percentage Range (W%R) 52.90
Lane's Stochastic (%D-Slow) 29.71
Greed/Fear Indicator (GFI) 40.20
Moving Average Converg./Diverg. (MACD) 1.53
Trading Signals
Description Value Chart
Upper Bollinger Band 66.85
50 Day Moving Average 66.48
Weekly Trendline Resistance 65.54
Parabolic System 64.58
20 Day Moving Average 64.54
Weekly Stochastic Crossing 64.40
Weekly Trendline Support 64.34
Daily Stochastic Crossing 62.85
Price 62.60
Lower Bollinger Band 61.84
Monthly Trendline Support 55.70
Quarterly Trendline Support 52.97
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry Office REITs 29
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 73.97
High Date 12/14/2023
Low 60.75
Low Date 02/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 65.54
Support 64.34
Low 50.64
Low Date 11/13/2023
High 73.97
High Date 12/14/2023
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 76.73
Support 55.70
Low 46.18
Low Date 03/24/2023
High 73.97
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 41.53
Support 52.97
High 133.11
High Date 03/29/2022
Low 46.18
Low Date 03/24/2023
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 115.50
Support 39.94
High 147.83
High Date 02/19/2020
Low 46.18
Low Date 03/24/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.