Stanley Inc. (SXE) Breezes Into A New Breakout Area

CGI Group Inc said on Friday it agreed to buy rival IT services provider Stanley Inc (NYSE: SXE) for about $900 million in cash to extend its U.S. footprint into the defense and intelligence sectors. Stanley Inc. (SXE) has a strong presence in areas like defense, cyber security and intelligence.

Stanley Inc. (SXE) breached above its 20 day MA and 50 day MA in the same session in the early morning trading following the announcement of acquisition. Stanley Inc. (SXE) has moved into the breakout zone, after scaling to a new 52 week high on Friday morning.