CBRE approaching resistance, potential drop! CBRE is approaching our first resistance at 44.05 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our first support at 41.58 (horizontal pullback support, 38.2% Fiboancci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching our resistance where we might see a corresponding drop in price.
CBRE trade ideas
Watch | CBRE Long | Possible Bullish Divergence CBRE
CBRE shows a possible bullish divergence in its daily chart.
Prices moved to a new low but MACD didn't. Once MACD ticks up and completes with a shallower bar this is a buy signal.
There were some false signals before so setting tight stops can help. A new bullish divergence can happen after some false.
Note: Because weekly points down this is only a short term long opportunity.
I will update this with possible entry levels should the divergence occur.