Brookfield Properties Corp Technical Analysis | Stock Chart |

I picked up a recent short play (put option expiring in October) with a property management company Named Brookfield. The company is listed in the US and in Canada under the stock ticker BPO.
 

Despite being oversold, this stock from a technical perspective is in deep trouble.  Breaking below all moving averages, as well as break out to the downside from a triangle correction.  I have a preliminary target of around $13.11, based on today's closing price is about a 15% decline.   It is worth noting that the MACD just crossed over the signal line on a daily and the last 4 days have had increasing volume.

A major level to watch is 15.06, which is the 200 week moving average.  If this level gets broke on high volume look for a rapid decline in the price.  As the world realizes the global economy is slowing, commercial property prices will be affected, but mostly Office rental properties as more companies go under.

This as well as other property management and construction companies have had a large run up without a sustainable pullback to assert their fair value. I would expect over the next 3-6 months many companies pulling back 10-30%.


Another great analysis on this chart is done by
Seeking Alpha :  10 Cheap Stocks With Bearish Trends Despite Growth Profitability



Wikipedia: Brookfield Office Properties

Brookfield Office Properties Inc. (TSX: BPO, NYSE: BPO) is a North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. The company has its headquarter operations in New York City and Toronto.^[2] Its New York City head office is on the 11th floor of the Three World Financial Center in Lower Manhattan, New York City, while their Toronto head office is located downtown in the Brookfield Place office complex, which encompasses an entire 5.2 acre city block and offers over 2,600,000 square feet (242,000 m²) of office space^[3]

Brookfield owns, manages and develops office properties in the downtown core of New York City, Washington, D.C., Boston, Denver, Minneapolis, Toronto, Calgary, Ottawa, and Vancouver. Brookfield's properties include One Liberty Plaza and the World Financial Center in New York City; Brookfield Place (formerly BCE Place), First Canadian Place, and Queen's Quay Terminal in Toronto; Place de Ville and the John Edmunds Towers in Ottawa, Canadian Western Bank Place and Enbridge Tower in Edmonton; Suncor Energy Centre, Fifth Avenue Place, Altius Centre, Herald Building, and Bankers Hall in Calgary; and Royal Centre in Vancouver. It also operates real estate service businesses and has a land-development business primarily based in Canada.