CBRE closes within prior day's range after lackluster session
CBRE Group Inc Class A (CBRE) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
CBRE finished Thursday at 48.30 gaining $0.36 (0.75%). Trading up to $0.22 lower after the open, CBRE Group managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (CBRE as at Jun 14, 2018):
Thursday's trading range was $0.37 (0.77%), that's far below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, the share managed to close higher but below the prior day's open, forming a bullish Harami Candle.
Prices are trading close to the key resistance level at 48.44.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 48.95 where further buy stops might get activated. Selling could accelerate should prices move below the nearby swing low at 47.88 where further sell stops might get triggered.