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Possible Bullish Inside Day Candle Pattern Detected for Cbre Group Inc-A (NYSE:CBG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cbre Group Inc-A (NYSE:CBG) based on the price action in the company's shares. Yesterday's price range of $43.29 and $43.53 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Cbre Group Inc-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CBRE Group, Inc. is a global commercial real estate services firm. The Company offers a range of services to occupiers, owners, lenders, and investors in office, retail, industrial, multi-family, and other commercial real estate assets. CBRE offers services such as advice and execution assistance for property leasing and sales, forecasting, and valuations.

Cbre Group Inc-A share prices have moved between a 52-week high of $44.33 and a 52-week low of $24.11 and closed yesterday at 80% above that low price at $43.32 per share. The 200-day and 50-day moving averages have moved 0.53% lower and 1.16% higher over the past week, respectively.

Cbre Group Inc-A (NYSE:CBG) defies analysts with a current price ($43.32) 11.4% above its average consensus price target of $38.40. Cbre Group Inc-A shares have support at the 200-day moving average (MA) of $32.10 and additional support at the 50-day MA of $28.65.

SmarTrend recommended that subscribers consider buying shares of Cbre Group Inc-A on September 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.86. Since that recommendation, shares of Cbre Group Inc-A have risen 17.4%. We continue to monitor CBG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle cbre group inc-a

Ticker(s): CBG