Downtrend Broken Resist.Archive
- 9/22/2023 -
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CBRE Group (CBRE) Technical Analysis
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|It was the negative week for the CBRE Group (CBRE). During the week, the CBRE dropped -3.25 points, or -4.14%, and closed at 75.17 on Friday, September 22, 2023. Weekly volume was -25% below average. |
Long-term trend: [See CBRE long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 66.31 and reached 89.58 on February 14, 2023. CBRE gained -23.27 points, or -35.09%, in 17 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 66.17 and resistance is at 89.30. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
Medium-term trend: [See CBRE medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 66.43 and reached 89.23 on July 19, 2023. CBRE gained -22.80 points, or -34.32%, in 16 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (83.78) 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. CBRE 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 medium-term trend.
Weekly Technical Indicators: [See CBRE weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See CBRE short-term trend chart]
A short-term downtrend had started on September 6, 2023 at 86.97 and reached 74.77 on September 22, 2023. CBRE lost 12.20 points, or 14.03%, in 16 days. Price is near the trend low.
Daily Technical Indicators: [See CBRE daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 12, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.