Hudson Pacific Properties Inc (NYSE: HPP)

Hudson Pacific Properties, Inc. operates as a vertically integrated real estate trust (REIT) in the United States. It engages in owning, operating, and acquiring office, and media and entertainment properties primarily in Northern and Southern California in Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley, and the East Bay. As of March 31, 2011, it owned a portfolio of 15 office properties; and 2 media and entertainment properties in California comprising approximately 4.4 million square feet.

Take a look at the 1-year chart of Hudson (NYSE: HPP) below with added notations:

1-year chart of Hudson (NYSE: HPP)

HPP had been working its way higher since its February low. However, the stock has recently stalled, as HPP has repeatedly hit the same resistance at $34 (red). The stock is sitting right at that level now. A solid close above the $34 should lead to another leg higher for HPP.

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The Tale of the Tape: HPP has a 52-week resistance at $34. The possible long position on the stock would be on a breakout above that level with a stop placed under it.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Follow me on Twitter: @cmtstockcoach