Turn this fiasco into your profit

If you listen to any news, you must have heard what happened to the website for Healthcare.gov, or more popularly called Obamacare. When it was up and running about a month ago for people to sign up the new healthcare insurance under Obamacare, it was a total fiasco. People simply could not logged onto the website. It went so bad that even a hearing was held by the House to investigate what happened. So who was behind this famous website? CGI Federal – a subsidiary of CGI Group (GIB), a Canadian company which got the contract to develop this website for the US government. Believe or not, CGI got $1 billion for the contract but could not make it work appropriately. No surprise, with this kind of debacle, it won't bode well with its stock. Actually Deutsche Bank recently downgraded the stock to "Sell", targeting it down to $24. The thing really makes me interesting is its technical outlook. You see, CGI has been trading in a very well defined channel in the past year. Recently it pierced through its low band of the channel at around $35 and now it is trading hands at $33. This is a very bearish sign and often indicates a change of the uptrend. I think there is high probability CGI will go down much more from this level and shorting CGI is a great opportunity!