CBRE Group (CBRE)
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|It was the negative week for the CBRE Group (CBRE). During the week, the CBRE dropped -1.71 points, or -2.21%, and closed at 75.57 on Friday, May 26, 2023. Weekly volume was 15% above average. |
Long-term trend: [See CBRE long-term trend chart]
A long-term downtrend had started on January 4, 2022 at 111.00 and reached 66.31 on October 13, 2022. CBRE lost 44.69 points, or 40.26%, in 40 weeks. The price is now at the 20.72% retracement level.
Medium-term trend: [See CBRE medium-term trend chart]
A medium-term downtrend had started on February 14, 2023 at 89.58 and reached 66.43 on March 24, 2023. CBRE lost 23.15 points, or 25.84%, in 5 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See CBRE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 17, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See CBRE short-term trend chart]
A short-term uptrend had started on March 24, 2023 at 66.43 and reached 78.58 on May 22, 2023. CBRE gained -12.15 points, or -18.29%, in 59 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.65 and resistance is at 82.56. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See CBRE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 Lane's Stochastic help.
The daily MACD line is above its signal line since March 31, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The distance between the Bollinger Bands (7.46%) is close to one year low (7.07%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.