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Cineplex Inc.

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CGX trade ideas

CGX (Cineplex Inc.) - Potential Pullback After Breaking TrendlinOn the 4-hour timeframe, CGX has recently broken below a key trendline that originated in late November, signaling potential weakness ahead. Here’s the detailed analysis: 1. Overbought Conditions: The RSI has climbed above 80, indicating overbought levels that often precede price corrections. This aligns with a bearish divergence seen in the MACD, which is starting to curve downward. 2. Support Target: If the pullback continues, I anticipate a move down to around $11.20, a level that aligns with prior support and Fibonacci retracement zones. This area could serve as a critical level to watch for potential reversal or consolidation. 3. Bearish Momentum: Moving averages on this timeframe are beginning to reflect weakening momentum, though the broader trend on the daily chart remains bullish. Key Levels to Watch: • Resistance: $12.00 (a failure to break below this might attract buyers early). • Support: $11.20 (critical for confirming the pullback and setting the stage for a potential rebound). Risk Factors: While the technicals lean bearish short-term, a return of strong buying pressure or broader market positivity could invalidate the correction and see CGX resume its upward trajectory. Let me know your thoughts—does $11.20 align with your analysis, or are you watching other levels?
TSX:CGXShort
by AboveTheLine
Cineplex $CGX making a comeback!Key Stats Price: $12.63 (as of Dec 1, 2024) Market Cap: 798M CAD Revenue (TTM): 1.39B CAD (+1.95% YoY) P/S Ratio: 0.78 Next Earnings Date: February 2025 Top 3 Technical Reasons (Bullish Bias) Strong support near $12.50: CGX has been testing this zone, forming a solid base with potential for a bounce. Breakout Watch: A bullish ascending triangle is forming, signalling a possible breakout towards $16. Volume Uptick: Recent trading days show increased volume on up moves—buyers are stepping in. Top 3 Fundamental Reasons (Bullish Bias) Revenue Growth Resilience: Despite sector struggles, Cineplex's revenue rose 1.95% YoY, outpacing some peers. Deep Value Play: A P/S ratio of 0.78 highlights undervaluation compared to broader industry averages. Canada’s Cinematic Recovery: Increased box office sales as tentpole releases and audience confidence return post-pandemic. Potential Paths to Profit Low-risk: Buy shares outright and aim for the $16 target. Options Play: Consider $15 strike calls expiring in May 2025 for leverage. Disclaimer: We are not a brokerage or investment firm. We do not offer financial or investment advice. This is not certified financial education. All sales are final, and refunds are not offered.
TSX:CGXLong
by ChartVZN
Weekly Cup & Handle - CineplexWeekly 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 sales to compensate for reduced capacity. With the cineworld lawsuit happening in Sept 13th (due to last 3-4 weeks), Cineplex has a lot of upside potentials and events to look out for. Exciting things ahead for Cineplex.
TSX:CGXLong
by crypto_Jind0
1
Cineplex CGX possible double bottom reversal, Bullish daily RSICineplex 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 lawsuit with Cineworld should settle around September-October.
TSX:CGXLong
by FartSauce42069
Clear Retracement at 50%; GeneralTrend 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 discover through my own analysis; because I'm looking for a trade group to share doing research with. Buy the dip after encountering resistance which is now becoming support. 1-3 month trade window for long positions. I don't short the market yet. 1-2% of your capital on each trade, to avoid great losses. Slow gains are better than any type of loss. Hold cash for surprises. Use a combination of Bollinger bands with 50 EMA, 200 EMA for trend affirmation, Fib Retracements for entry points, establish channel/range, up/downtrend, do daily research, interpret the news, flip a stock on the news for fun but don't hold it unless you've done the research. Companies that are bought do great in the short term, discussions about buying stocks does really good things for the stock, but in the long run, the company doing the buying will end up doing just as well? This is something I'm curious of. Pandemic related; how long will it take to get back to pre-pandemic levels? I believe this one to be a long road, but there will be spikes, buy now, and sit on this one - we all miss a big movie screen. This past week my stock picks have outperformed the TSX, NASDAQ, DOW and the S&P 500. I started trading in February 2021. Do you have any thoughts, comments, reactions, useful bits of advice? Constructive criticism welcome.
TSX:CGX
by massiveKing88765
Cineplex: Daily Inverse H&S 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 pattern: 1) Wall Street Bets coming onboard - It's crazy out there and WSB has been influencing the market in a way that I've never seen before. Not likely though, but $CGX has benefited from AMC going through the roof today. 2) Additional/consistent vaccine roll-out. 3) Easing of lockdowns Some events that will slow down cineplex: 1) Prolonged lockdowns 2) Significant Vaccine delays
TSX:CGXLong
by crypto_Jind0
1
Cineplex consolidation after massive sell-offDaily 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 can lose big, potentially). Covid-19 has been depressing for the entertainment industry and its uncertainty has been the driving force of negative momentum over the last couple of months. Risky bet, but might pay out in the long run.
TSX:CGXLong
by crypto_Jind0
4
Cineplex LONG yes really 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 2004 for a minute, Facebook was just beginning, IPhones didn't even exist. I personally own 5000 shares of it around $8 and plan to hold it for years to come.
TSX:CGXLong
by AthenaCapital
4
Cineplex Inc - Daily - Long OpportunityAfter the coronovirus outbreak and lockdown, this Cinema stock has lost almost 80% of its value and has found its support at 6-7$ per share. Additionally note that the price has just broken and rejected the 50 Moving Average as confirmation for a long entry. This is a massive long term opportunity, the company financials appear to be solid with constant growth and good free cash flow position in pre-covid period. Always keep in mind it is a game of probabilities!
TSX:CGXLong
by SCV_Trading