Green day on Monday for CGI Group Inc stock after gaining 0.0535%
(Updated on Sep 26, 2022)
Sell candidate since 2022-09-20 Loss -2.99% PDF
The CGI Group Inc stock price gained 0.0535% on the last trading day (Monday, 26th Sep 2022), rising from $74.82 to $74.86. During the last trading day the stock fluctuated 1.63% from a day low at $74.32 to a day high of $75.53. The price has fallen in 7 of the last 10 days and is down by -8.51% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 201 thousand shares were bought and sold for approximately $15.05 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $74.74 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.45% during the next 3 months and, with a 90% probability hold a price between $70.67 and $80.47 at the end of this 3-month period.
Signals & Forecast
There are mixed signals in the stock today. The CGI Group Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $76.50 and $80.87. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, September 23, 2022, and so far it has risen 0.0535%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss
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 $1.21 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect CGI Group Inc to open at $74.90, and during the day (based on 14 day Average True Range), to move between $73.32 and $76.40, which gives a possible trading interval of +/-$1.54 (+/-2.06%) up or down from last closing price. If CGI Group Inc takes out the full calculated possible swing range there will be an estimated 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $74.82 (0.05%) than the resistance at $79.71 (6.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -1.140Sell Candidate Unchanged
Predicted Opening Price for CGI Group Inc of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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About CGI Group 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 off... GIB Profile
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