tsx_trader
Long

Accumulation stage - Swing trade

TSX:AC   AIR CANADA
506 views
9
Hey

AC is entering a triangle shaped channel and has healthy buying pressure. Likely to break upwards. Since mid May, it has recorded higher highs and higher lows. There has been lots of bad news this weekend (Covid cases up in the US) and yet there is healthy buying pressure.

On the 22nd, there was news from Trudeau that travel restrictions will not be eased in the present time, and this news did not have a negative impact on the trading day. I believe this news came out at about 12pm. Trudeau will review restrictions agains in July.

This is a good time to add to your portfolio or enter for a wing trade.

It is likely to have good returns should travel restrictions get eased up in July, with low risk to the downturn in the interim. Its also near a dip in the present trading channel. Confirmation for the upside to follow tomorrow.

Entry 19.00
Exit 23.00

hold till made to late July anticipated.

I bought a 3rd of my allotted shares for AC . Make sure to keep some cash in order to price average should the value tumble a little.

Comments

Nice man. I'm new to this. My average is 21.30.. I want to get out at 23 and wait for another dip.
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