On today’s TSX Breakouts report, there are 45 stocks on the positive breakouts list (stocks with positive price momentum), many of which are gold and energy stocks, and 11 securities are on the negative breakouts list (stocks with negative price momentum).
Discussed today is an oversold stock that appears on the negative breakouts list – CGI Inc. (GIB.A-T).
Since closing at a record high of $159.66 on March 13, the share price has plunged nearly 13 per cent. Before the market opens on May 1, the company will be releasing its quarterly earnings results. For multiple quarters, revenue growth has been declining. If the company announces disappointing numbers and a muted outlook, this could pull the share price down. However, if there is further price weakness, this may represent a buying opportunity for long-term investors.
A brief outline on CGI is provided below that may serve as a springboard for further fundamental research when…
