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CBRE GROUP INC - A (NYSE:CBRE) showing some interesting technicals. Here's why.

By Mill Chart

Last update: Sep 7, 2023

Our stock screener has spotted CBRE GROUP INC - A (NYSE:CBRE) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:CBRE.

CBRE Daily chart on 2023-09-07

Technical Analysis Observations

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, CBRE scores 8 out of 10 in our technical rating. Although CBRE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • The long and short term trends are both positive. This is looking good!
  • CBRE is part of the Real Estate Management & Development industry. There are 65 other stocks in this industry. CBRE outperforms 75% of them.
  • CBRE is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so CBRE is performing more or less in line with the market.
  • In the last month CBRE has a been trading in the 80.59 - 86.97 range, which is quite wide. It is currently trading near the high of this range.
  • Prices have been consolidating recently, this may present a good entry opportunity.
  • Looking at the yearly performance, CBRE did better than 77% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

For an up to date full technical analysis you can check the technical report of CBRE

How do we evaluate the setup for NYSE:CBRE?

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:CBRE is 9:

Besides having an excellent technical rating, CBRE also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. 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.

Trading setups like NYSE:CBRE

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed 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.

Disclaimer

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.

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CBRE GROUP INC - A

NYSE:CBRE (2/26/2024, 7:23:40 PM)

After market: 89.95 0 (0%)

89.95

-0.16 (-0.18%)

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