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.



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