BRIXMOR PROPERTY GROUP INC (NYSE:BRX) showing some interesting technicals. Here's why.

We've identified BRIXMOR PROPERTY GROUP INC (NYSE:BRX) 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:BRX for further developments.

Deciphering the Technical Picture of NYSE:BRX

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.

We assign a technical rating of 7 out of 10 to BRX. Although BRX 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.
• BRX is part of the Diversified REITs industry. There are 127 other stocks in this industry. BRX outperforms 72% of them.
• When compared to the yearly performance of all other stocks, BRX outperforms 58% of them, which is more or less in line with the market.
• BRX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BRX is lagging the market.
• In the last month BRX has a been trading in a tight range between 22.02 and 23.14.

Our latest full technical report of BRX contains the most current technical analsysis.

How do we evaluate the setup for NYSE:BRX?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:BRX this score is currently 9:

BRX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 22.95. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.63, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NYSE:BRX and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.