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.
Disclaimer: We are not a brokerage or investment firm. We do not offer financial or investment advice. This is not certified financial education. All sales are final, and refunds are not offered.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.