CGI group Inc. (NYSE:GIB) has been testing/consolidating near some major resistance around the 38 mark since mid 2013 (over a year and a half).

Here is the monthly candle chart since 2007:

gib_m

A closer look at the weekly candle chart (5 years):

gib_w

And finally 1 year action with daily candles:

gib_d

My alerts are set. I’ll keep watching this closely for a decisive close on the monthly candle chart above 38.50.

Immediate target would then be a measured move to 47.80.

 

By badcharts

My name is Patrick Karim. I’m a proprietary capital manager and chart trader since 2006. With a background in commerce and psychology, I also have an ongoing career in systems engineering. My analytical mind helps me excel at achieving a methodical approach to evaluating trading scenarios. The psychology background helps in understanding the human factor, ex: overcoming stress, which is mostly responsible for maintaining a successful career.