Trade of the Day – Broken Support Lines Create Short Opportunity in CGI Group (GIB)

Posted By Tate Dwinnell |  Subscribe in a reader | Comment 0

I featured a Trade of the Day short opportunity a few days ago in Transcend Services (TRCR) and it’s up nearly 10% since.  An equally promising short opportunity has emerged in CGI Group (GIB) after the stock broke down below its upward trend and 50 day moving average support areas with record sell volume.  The stock is bounced a bit yesterday and was turned away at resistance of the 50 day moving average today, creating a nice short opportunity.

 cgi group gib short stock chart

Disclaimer: I do not have a short position in GIB at this time.

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