CBRE closes within prior day's range after lackluster session


CBRE Group Inc. (CBRE) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
CBRE closes above its opening price after recovering from early selling pressure
CBRE ends the day on a bullish note closing near the high of the day
CBRE closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 37% Bullish
Technical Forecast:
Overview

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 chart for CBRE
Volatility

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.

Price Action

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.

Support/Resistance

Prices are trading close to the key resistance level at 48.44.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for CBRE Group Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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