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CGX

Weekly Cup & Handle - CineplexWeekly Cup & handle formation spotted on $CGX.TO. Canada is opening up, the possibility of another lockdown is low with an upcoming election. If the liberal party wins for the next term, CGX will benefit due to Liberal party's plan to support hard-hit businesses with the Arts and Culture Recovery Program. (liberal.ca) Basically the government will match ticket sales to compensate for reduced capacity. With the cineworld lawsuit happening in Sept 13th (due to last 3-4 weeks), Cineplex has a lot of upside potentials and events to look out for. Exciting things ahead for Cineplex.
TSX:CGXLong
by avedj94
1
Cineplex: Daily Inverse H&S Looks like Cineplex is attempting to break out of the blue resistance - There is an inverse H & S pattern occurring on Cineplex on the daily. I posted mid-October that Cineplex has been consolidating near $5, now it has more than doubled since then. Target from this pattern is going to be around $17. Some events that will help cineplex bust through this pattern: 1) Wall Street Bets coming onboard - It's crazy out there and WSB has been influencing the market in a way that I've never seen before. Not likely though, but $CGX has benefited from AMC going through the roof today. 2) Additional/consistent vaccine roll-out. 3) Easing of lockdowns Some events that will slow down cineplex: 1) Prolonged lockdowns 2) Significant Vaccine delays
TSX:CGXLong
by avedj94
1
Cineplex consolidation after massive sell-offDaily bullish divergence on the RSI - the price of CGX has printed a lower low with a higher low RSI, with the daily MACD also crossing over. Price has been consolidating on the 10 day MA. Current price reflects people's emotions and fears about the company and industry in general - and this can mean you can bet against that emotion and win big potentially (and can lose big, potentially). Covid-19 has been depressing for the entertainment industry and its uncertainty has been the driving force of negative momentum over the last couple of months. Risky bet, but might pay out in the long run.
TSX:CGXLong
by avedj94
4