CGI Group Inc Stock Forecast
Red day on Wednesday for CGI Group Inc
(Updated on Apr 24, 2024)
The CGI Group Inc stock price fell by -0.370% on the last day (Wednesday, 24th Apr 2024) from $105.29 to $104.90. During the last trading day the stock fluctuated 1.30% from a day low at $104.60 to a day high of $105.96. The price has been going up and down for this period, and there has been a -0.08% 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 -143 thousand shares and in total, 184 thousand shares were bought and sold for approximately $19.29 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.26% during the next 3 months and, with a 90% probability hold a price between $94.52 and $105.98 at the end of this 3-month period.
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GIB Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CGI Group Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $110.26. On a fall, the stock will find some support from the short-term average at $104.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CGI Group Inc stock
CGI Group Inc finds support from accumulated volume at $104.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.36 (1.30%) between high and low. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect CGI Group Inc to open at $105.15, and during the day (based on 14 day Average True Range), to move between $103.15 and $106.65, which gives a possible trading interval of +/-$1.75 (+/-1.67%) up or down from last closing price. If CGI Group Inc takes out the full calculated possible swing range there will be an estimated 3.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $105.29 (0.37%) than the support at $104.50 (0.38%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
CGI Group Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.43. We will update the financials statements for CGI Group Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.32% in the first trading day after earnings release.
Is CGI Group Inc stock A Buy?
CGI Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.698 Sell Candidate Unchanged
Predicted Opening Price for CGI Group Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $105.15 ( 0.241%) | $104.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 106.51 | 1.54 % | |
| R2 | 105.99 | 1.04 % | ||
| R1 | 105.67 | 0.737 % | ||
| Current price: | 104.90 | |||
| Support | S1 | 104.63 | -0.254 % | |
| S2 | 104.31 | -0.560 % | ||
| S3 | 103.79 | -1.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 111.82 | 6.60 % | |
| R2 | 111.80 | 6.58 % | ||
| R1 | 105.29 | 0.372 % | ||
| Current price | 104.90 | |||
| Support | S1 | 104.50 | -0.381% | |
| S2 | 104.41 | -0.467% | ||
| S3 | 102.93 | -1.88% |
FAQ
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