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CB Richard Ellis Group Bearish Moving Average Crossover Alert (CBG)

By Shiri Gupta

CB Richard Ellis Group (NYSE:CBG) crossed under its 10-day moving average of $30.45 on a volume of 326K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

CB Richard Ellis Group share prices have moved between a 52-week high of $39.77 and a 52-week low of $22.74 and are now trading 32% above that low price at $30.01 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of CB Richard Ellis Group on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.65. Since that recommendation, shares of CB Richard Ellis Group have risen 15.9%. We continue to monitor CBG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cb richard ellis group

Ticker(s): CBG