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what the charts say

SNC-Lavalin Group Inc. had a sharp decline from $59.63 to $36.24 over a period of about seven months (A-B). It then had a series of rallies and sell-offs mostly between $36 and $47 for about one year, which produced a bullish technical pattern known as a triple bottom (dashed lines). The recent rise (C) signalled: renewed investor interest, a breakout from the bullish formation and the start of a new up-leg. A better entry may occur toward $44; only a decline below $42 would be negative. Point & Figure measurements provide targets of $52 and $55. The large triple bottom supports higher targets.

Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. and he tweets at @Ronsbriefs. They may hold shares in companies profiled.

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