For today's chart we've chosen to take a look at
CB Richard Ellis Group (NYSE:
CBG) because the stock is currently testing the resistance of its 50-day
moving average. As you can see from the chart below, the influential moving average has prevented the bulls from sending the price higher over the past few months and it will be interesting to see if this story will continue. It is also important to note that the moving averages have been diverging away from each other, which suggests that the downtrend is getting stronger. The bulls have a lot of overhead resistance to overcome before they are able to send this stock higher again.
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