Hello guys
According to the chart you can see the price is moving downward trend and it has need more correction to have good R/r then we have permission to take short position until the target.
You should take signal at first then dont forget use stop loss and observe to your capital management.
Everything is shown on chart, If you have question send us...
Cup and handle pattern $CBRE weekly
- Cup and handle pattern forming on the weekly
- Waiting for bear flag trigger or price consolidation
- Support level / Trend line level - waiting for all stars to align
CBRE is a commercial real estate services company. They don't actually own any real estate, just provide various services for property owners. One of my favorite shorts.
Positions:
9/18/20 $55p (ITM)
12/18/20 $30p (OTM)
Price Targets:
Near term: low $30s
Mid Term: $15ish
Re-evaluate if price reverses towards $50 again.
Good luck all!
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...
