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Swing Trade Idea (CBRE) – March 21, 2022

Market Outlook: With the much anticipated Fed rate hike out of the way, equities shift their focus to the ongoing conflict between Russia and Ukraine. Markets remain volatile but also remain very headline-driven which makes trading conditions very difficult. However, we are seeing a strong case of recovery in equities from a technical perspective with the major indices continuing to rebound and maintaining the momentum found earlier this week. There were early indications of rotation into growth this week, but this may not continue as macro risks remain elevated and headwinds continue to grow for equities. 

CBRE Bearish Idea: Our bearish idea today is CBRE Group. CBRE is part of the Real Estate Sector which is showing signs of underperformance relative to the S&P 500 in recent sessions. Price action remains very bearish with a head and shoulders formation and a neckline break near the $94 support level providing additional bearish confluence. Both 1M and 6M trends are bearish and with a Technical Score of 4 (out of 10), CBRE is a weak stock that will is expected to continue lower.