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Today Constellation Software, Inc. (CSU.TO) broke out of the trading range it had been in for the past three months.
I had noticed CSU in last week's stock screen for Canadian all-time highs. It stood out among a list full of resource stocks and utilities. I could see that the chart was appealing but I also wanted to know more about the company since there are not many successful Canadian software companies.
A few points to notice in the chart below, which has daily candlesticks and blue Darvas boxes overlaid:
- Yesterday's breakout failed but it managed to close at the top of the trading range
- Today's breakout reached a new all-time high
- It closed at the high-of-the-day today
- The breakout ends a multi-month trading range, which could give it more meaning (as prior resistance becomes support)
- Top of the trading range coincides with a round-number (which may have some psychological importance)
- Within the large trading range there were several 'tighter' sub-ranges that had recently been broken to the upside.
More about the company from http://www.csisoftware.com:
Constellation Software is an international provider of market leading software and services to a select number of industries, both in the public and private sectors. Our mission is to acquire, manage and build market-leading software businesses that develop specialized, mission-critical software solutions to address the specific needs of our particular industries.
- founded in 1995
- grown rapidly through a combination of acquisitions and organic growth
- diverse customer base comprised of over 20,000 customers operating in over 30 countries
- six operating groups which currently service customers in over 30 different markets worldwide.
- two distinct segments for financial reporting purposes: (i) the public sector segment, which includes businesses focusing upon government and government-related customers, and (ii) the private sector segment, which includes businesses focusing upon commercial customers.
- With our headquarters in Toronto, Canada, and offices in North America, Europe and Australia, we have over 2,200 employees generating consolidated revenues exceeding US$330 million.
Related Posts:
- US stock screen results: Low priced US stocks
- Canadian stock screen results: TSX and CVE
- Turn stock lists action: Make a watchlist
- Manage risk: On setting stops
- Psychological element: Explaining why all-time highs outperform
- Learning from the past: Trend-trading Potash Corp 2006-2008
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