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Costar Group Inc - (CSGP) - June 27 2023

Costar Group (CSGP), a provider of data and analytics services to the commercial real estate industry, has been climbing back up the rankings in the SIA S&P 500 Index Report since April. Earlier this month, they returned to the Green Favored Zone and are up 10.0% since then. Yesterday, Costar finished in 75th place, up 10 spots on the day and up 84 positions in the last month. A downswing in Costar Group (CSGP) shares bottomed out back in March near $65.00 and since then, the shares have been under renewed accumulation. A new uptrend of higher lows has emerged, the moving averages have completed a bullish Golden Cross, and the shares have broken through their November 2022 high near $83.00 to trade at their highest level since late 2021. Next notable upside resistance appears in the $99.00 to $101.00 zone where a measured move, the November 2021 peak and the $100.00 round number cluster. Initial support appears near $80.00.

Back in April, a downturn in Costar Group (CSGP) shares bottomed out at a higher low and since then, the shares have been climbing. Building on a bullish Double Top breakout, a recent bullish Spread Double Top breakout over $85.00 has confirmed that the underlying uptrend that started about a year ago has resumed.

Initial upside resistance appears near $94.55 based on a horizontal count, and previous column highs, followed by the $100.00 to $102.35 zone where a vertical count, the October 2021 peak and a round number cluster. Initial support appears near $80.70 based on a 3-box reversal.

With its bullish SMAX score increasing to 8, CSGP is exhibiting strength across the asset classes.

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