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SmarTrend Watching for Potential Rebound in Shares of CB Richard Ellis Group After 1.47% Loss

By Amy Schwartz

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.

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.

In the past 52 weeks, CB Richard Ellis Group share prices have been bracketed by a low of $22.74 and a high of $39.00 and are now at $35.47, 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%.

Keywords: rebounders cb richard ellis group

Ticker(s): CBG