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CGI GIB-A-T started a long-term uptrend above a rising trendline in 2022 (dotted line) and reached a high of $175.35 in January 2025 (A). We recommended the stock on December 14, 2022 ($118.57) and again on March 20, 2024 ($159.22). However, the stock reversed the trend as it fell below the rising trendline and the 40-week Moving Average (40wMA) in April, like the majority of stocks on North American indices, due to tariff announcements (B). Despite a brief recovery rally to its average in May (C), CGI remains below its average. The recent decline below the April lows is negative (D). The stock is currently trading near support at $128-130 (shaded area); a sustained decline below this level would signal lower targets.
Only a decisive rise above the 40wMA (currently near $148) would reverse the current negative trend.
A sustained decline below $128-130 would signal a Point & Figure target of $115. Lower targets are visible.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com