By Mill Chart
Last update: Sep 6, 2023
A possible breakout setup was detected on CBRE GROUP INC - A (NYSE:CBRE) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:CBRE.
Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.
Taking everything into account, CBRE scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CBRE is only an average performer.
For an up to date full technical analysis you can check the technical report of CBRE
ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:CBRE exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.
CBRE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 84.94, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.
Our Breakout screener lists more breakout setups and is updated daily.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
CBRE GROUP INC - A
NYSE:CBRE (12/7/2023, 7:04:00 PM)After market: 82.66 0 (0%)
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