The Greedy Trader Weekly Analysis
Sign In Sep 29, 2023
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 9/22/2023 -
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CBRE Group (CBRE) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved below its signal lineBroken trend support line
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversold
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 11.11
Oversold
Williams' Percentage Range (W%R) 96.60
Strong Oversold
Lane's Stochastic (%D-Slow) 6.35
Strong Oversold
Greed/Fear Indicator (GFI) 6.94
Strong Oversold
Moving Average Converg./Diverg. (MACD) -1.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.64
Williams' Percentage Range (W%R) 79.00
Lane's Stochastic (%D-Slow) 42.04
Greed/Fear Indicator (GFI) 36.65
Moving Average Converg./Diverg. (MACD) 1.45
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 89.30
Upper Bollinger Band 88.29
Monthly Trendline Resistance 86.17
Monthly Trendline Support 83.78
50 Day Moving Average 83.71
Parabolic System 82.33
20 Day Moving Average 82.18
Weekly Stochastic Crossing 79.55
Daily Stochastic Crossing 75.27
Price 75.17
Lower Bollinger Band 73.37
Quarterly Trendline Support 66.17
Sector and Industry
Description Name Rank
Sector Real Estate 5
Industry Real Estate Services 54
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 86.97
High Date 09/06/2023
Low 74.77
Low Date 09/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.23
High Date 07/19/2023
Low 74.77
Low Date 09/22/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 86.17
Support 83.78
Low 66.43
Low Date 03/24/2023
High 89.23
High Date 07/19/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rectangle
Status Valid
Resistance 89.30
Support 66.17
Low 66.31
Low Date 10/13/2022
High 89.58
High Date 02/14/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 111.00
High Date 01/04/2022
Low 66.31
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.