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Constellation Software Inc. (CSU $2,441.20)
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Thomson Reuters Corporation (TRI $121.48)
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Topicus.com Inc. (TOI $96.42)
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Lumine Group Inc. (LMN $20.80)
Does the brief rally followed by a pullback that these four stocks have just experienced carry any meaningful signal, in your view, is it positive or neutral?
Thanks
All are software names, and in a broad sense, we are seeing early signs of money flowing back into software (particularly the IGV ETF).
TRI saw a sharp snapback in late February, which filled a gap from $135 to $150, and its recent pullback is now testing that gap area. If we see support found here, and a new bounce above $155, that could help further support a local bottom.
CSU's recent rally has helped the weekly RSI to breakout of a downtrend since mid-2024, and if its pattern loooks quite similar to TRI.
LMN has broken above its low from November 2025, and is holding above it. If it breaks above $32 this would help signal a higher low is in place, which is positive for reversing downtrends.
TOI has the least clear picture, with a downtrend still very much in place, and we would like to see price break above $120, and then eventually above $123.
It is still early days, but we think this could be the markings of a bottoming process for software, and they can take time to recover.