Breakout Stocks of Week 16 @ TSX
NASDAQ was down last week (week 15) by -0.452% ending at 16,175.09 points after falling -73.43 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Cgi Inc. TSX:GIB-A. This stock has had a buy signal since Apr 11, 2024 when the price was $144.41 , but have so far fallen -0.360% to $143.89. Some other companies are on our watchlist to, among these are Hydro One Limited TSX:H Colliers International Group Inc. TSX:CIGI Metro Inc. TSX:MRU and George Weston Limited TSX:WN which all got a breakout pattern emerging.
| Date | Company | Price | Week 16 |
|---|---|---|---|
| Cgi Inc. | $143.89 | $142.99 | -0.625% |
| Hydro One Limited | $38.08 | $37.80 | -0.735% |
| Colliers International Group Inc. | $156.02 | $145.87 | -6.51% |
| Metro Inc. | $70.61 | $69.70 | -1.29% |
| George Weston Limited | $175.84 | $177.84 | 1.14% |
The Cgi Inc. stock price fell by -0.360% on the last day (Friday, 12th Apr 2024) from $144.41 to $143.89. During the last trading day the stock fluctuated 1.18% from a day low at $142.61 to a day high of $144.29. The price has fallen in 6 of the last 10 days and is down by -3.71% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -149 thousand shares and in total, 296 thousand shares were bought and sold for approximately $42.61 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Cgi Inc.:
CGI Inc., together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities. The company also offers application development, integration and maintenance, testing, portfolio management, and modernization services; business consulting; and a suite of business process services designed to address the needs of specific industries, as well as IT infrastructure services. It serves clients operating in government, banking and capital market, health, utility, communication and media, oil and gas, retail, consumer and services, space, manufacturing, insurance, life sciences, retail and consumer service, and transportation and logistics sectors. The company was formerly known as CGI Group Inc. and changed its name to CGI Inc. in January 2019. CGI Inc. was founded in 1976 and is headquartered in Montreal, Canada.
The Hydro One Limited stock price gained 0.105% on the last trading day (Friday, 12th Apr 2024), rising from $38.04 to $38.08. During the last trading day the stock fluctuated 1.96% from a day low at $37.77 to a day high of $38.51. The price has fallen in 7 of the last 10 days and is down by -3.59% for this period. Volume fell on the last day by -165 thousand shares and in total, 723 thousand shares were bought and sold for approximately $27.52 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Hydro One Limited:
Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. It operates through three segments: Transmission Business, Distribution Business, and Other. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and 125,000 circuit kilometers of primary low-voltage distribution network. It serves approximately 1.5 million residential, small business, commercial, and industrial customers. The company also provides telecommunications support services for its transmission and distribution businesses; and information and communications technology services and solutions. Hydro One Limited was incorporated in 2015 and is headquartered in Toronto, Canada.
The Colliers International Group Inc. stock price gained 0.251% on the last trading day (Friday, 12th Apr 2024), rising from $155.63 to $156.02. During the last trading day the stock fluctuated 3.06% from a day low at $151.39 to a day high of $156.02. The price has been going up and down for this period, and there has been a -5.77% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 24 thousand shares were bought and sold for approximately $3.75 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Colliers International Group Inc.:
Colliers International Group Inc. provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers sales brokerage services, including real estate sales, debt origination and placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and landlord and tenant representation services. The company provides outsourcing and advisory services, such as corporate and workplace solutions; valuation and advisory services; workplace strategy services; loan servicing; property marketing; research services; and engineering design services for property and building, infrastructure, transportation, environmental and telecommunications end-markets. It also offers property management services comprising building operations and maintenance, facilities management, lease administration, property accounting and financial reporting, contract management and, construction management; and project management services, which include bid document review, construction monitoring and delivery management, contract administration and integrated cost control, development management, facility and engineering functionality, milestone and performance monitoring, quality assurance, risk management and strategic project consulting. In addition, the company provides investment management services that consists of asset management advisory and administration, transaction, and incentive services. The company was founded in 1972 and is headquartered in Toronto, Canada.
The Metro Inc. stock price fell by -0.113% on the last day (Friday, 12th Apr 2024) from $70.69 to $70.61. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.753% from a day low at $70.37 to a day high of $70.90. The price has fallen in 7 of the last 10 days and is down by -2.9% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 thousand shares and in total, 238 thousand shares were bought and sold for approximately $16.80 million.
Metro Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Metro Inc.:
Metro Inc. operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada. It operates supermarkets and discount stores that provide fresh and grocery products, baked goods, prepared foods, meats, dairy products, fruits and vegetables, frozen foods, bakery products, and pastries, as well as Mediterranean and Middle Eastern products. As of September 25, 2021, the company operated a network of approximately 963 food stores under various banners, including Metro, Metro Plus, Super C, and Food Basics, Adonis, and Premiere Moisson as well as approximately 649 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy, and Food Basics Pharmacy banners. It also manufactures generic drugs; and provides online grocery shopping services. Metro Inc. was founded in 1947 and is headquartered in Montréal, Canada.
The George Weston Limited stock price fell by -0.582% on the last day (Friday, 12th Apr 2024) from $176.87 to $175.84. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.20% from a day low at $174.90 to a day high of $177.00. The price has been going up and down for this period, and there has been a -3.92% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -9 thousand shares and in total, 68 thousand shares were bought and sold for approximately $12.02 million.
George Weston Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About George Weston Limited:
George Weston Limited provides food and drug retailing, and financial services in Canada and internationally. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy, health and beauty, apparel, general merchandise, and financial services. It operates retail drug stores under the Shoppers Drug Mart name. This segment also provides credit card services, insurance brokerage services, guaranteed investment certificates, and wireless mobile products and services. The Choice Properties segment owns, operates, and manages commercial, residential, tenant, industrial, and office properties. It provides products under the President's Choice, Life Brand, and Farmer's Market brands. The company was founded in 1882 and is based in Toronto, Canada. George Weston Limited is a subsidiary of Wittington Investments, Limited.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
