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Technical Insights for CBRE GROUP INC - A (NYSE:CBRE): Is a Breakout Imminent?

By Mill Chart

Last update: Apr 10, 2024

Our stockscreener has identified a possible breakout setup on CBRE GROUP INC - A (NYSE:CBRE). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:CBRE for potential opportunities.

CBRE Daily chart on 2024-04-10

Analyzing the Technical Aspects

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall CBRE gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, CBRE is showing a nice and steady performance.

  • The long and short term trends are both positive. This is looking good!
  • Looking at the yearly performance, CBRE did better than 83% of all other stocks.
  • CBRE is one of the better performing stocks in the Real Estate Management & Development industry, it outperforms 83% of 68 stocks in the same industry.
  • CBRE is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
  • In the last month CBRE has a been trading in the 92.15 - 98.65 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

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

How does the Setup look for NYSE:CBRE

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:CBRE is 10:

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 a resistance zone just above the current price starting at 97.24. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 95.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CBRE in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:CBRE be traded?

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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 (5/24/2024, 7:18:39 PM)

After market: 87.5 0 (0%)

87.5

-0.15 (-0.17%)

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