Nice breakout to the upside on the monthly and weekly here
We want to see that follow thru over the rest of the week
I am looking at some monthly calls at $16 for November
New James Bond October 8th you already know I will be there
Weekly Cup & handle formation spotted on $CGX.TO. Canada is opening up, the possibility of another lockdown is low with an upcoming election. If the liberal party wins for the next term, CGX will benefit due to Liberal party's plan to support hard-hit businesses with the Arts and Culture Recovery Program. (liberal.ca)
Basically the government will match ticket...
Cineplex has potentially formed a double bottom here with a price target of around 22 dollars. Supporting this is the Daily RSI which should break out of the descending wedge any time soon now. Key resistances are shown on the chart. Ontario full reopening soon on or after the 16th of August with many blockbusters crammed between fall and new years. Also the...
$CGX's pattern currently looks like it could be forming an inverse H&S on a weekly. If validated, the target would be around $27. Canada is progressing very nicely in vaccination effort, with COVID case counts being steadily being lowered. Once the economy is reopened, 2021 is packed with good movie releases and Cineplex will soon be able to boom once more.
Trend continuation
The more often a stock attempts to break through resistance, and retraces less each time is a sign that there is an increased likelihood that the stock will break the resistance and breakout out of its current range, so this should be an indication to buy the stock.
This might be basic but, I'm learning that publishing my ideas that I...
Price has been making higher lows, while the rsi has been making lower lows over the last couple of weeks - with the Canadian vaccination effort taking off, I expect the market to behave similarly like that of the US (CNK, AMC..etc).
Looks like Cineplex is attempting to break out of the blue resistance - There is an inverse H & S pattern occurring on Cineplex on the daily. I posted mid-October that Cineplex has been consolidating near $5, now it has more than doubled since then. Target from this pattern is going to be around $17. Some events that will help cineplex bust through this...
Daily bullish divergence on the RSI - the price of CGX has printed a lower low with a higher low RSI, with the daily MACD also crossing over. Price has been consolidating on the 10 day MA. Current price reflects people's emotions and fears about the company and industry in general - and this can mean you can bet against that emotion and win big potentially (and...
Sometimes trading doesn't have to be hard, just buy good businesses. Here is your chance of buying a highly efficient business with strong margins over 50% recently valued at 2.2 Billion / $33 share.
Currently trading at $9.58
Aside from the march low of $6.30 due to covid you have to go all the way back to 2004 to find it trading at this price. Think back to...
