Long term winner - Great place to buy!
CGI (GIB.A) is a Canadian Info Tech Consulting giant, providing development and consulting services across a wide range of industries. It has proven to be a long term winner and pulled out of the Covid crash strongly. GIB.A is projected to double its business over the coming decade. Over the pass number of weeks, we've seen a fundamental shift in the global markets due to Interest Rate fears and other jitters which has caused weekly and daily volatility across a wide range of stocks, but particularly high growth based more speculative companies. GIB.A is sort of wedged between high growth and value, with many long standing development contracts and providing always needed services for 1000s of clients around the world while also continuing to grow it's business and take on more and more consulting opportunities & contracts.
From a technical stance, we see now a nice correction on the weekly chart and a Bullish flag has formed. The price has touched down to the support zone that looks like a great place to start a position or add to existing positions. It's worth mentioning the RSI is telling us we are in a fair value zone and the gap between the MACD is shrinking between buyers/sellers. I am personally a buyer at these levels and am adding to my long term holding as I feel the downside risk is lower now than before.
As always, do your own research but GIB.A has consistently returned upwards of 20% annually for several decades. A proven Canadian long term winner and safe hold in my opinion!
From a technical stance, we see now a nice correction on the weekly chart and a Bullish flag has formed. The price has touched down to the support zone that looks like a great place to start a position or add to existing positions. It's worth mentioning the RSI is telling us we are in a fair value zone and the gap between the MACD is shrinking between buyers/sellers. I am personally a buyer at these levels and am adding to my long term holding as I feel the downside risk is lower now than before.
As always, do your own research but GIB.A has consistently returned upwards of 20% annually for several decades. A proven Canadian long term winner and safe hold in my opinion!
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