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CB Richard Ellis Group Set to Possibly Rebound After Yesterday's Selloff of 1.47%

By Shiri Gupta

CB Richard Ellis Group (NYSE:CBG) traded in a range yesterday that spanned from a low of $35.38 to a high of $35.98. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $35.45 on volume of 640,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of CB Richard Ellis Group have traded between a low of $22.74 and a high of $39.00 and are now at $35.47, which is 56% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of CB Richard Ellis Group on February 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.71. Since that recommendation, shares of CB Richard Ellis Group have risen 6.9%. We continue to monitor CBG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cb richard ellis group

Ticker(s): CBG