MAL - Channel trade

tsx_trader Updated   

Markets are mixed, possibly turning bearish (near all time highs)
MAL has been performing well.
MAL entered channel trading (consolidation) starting March 5 2021

10.05 Bottom of channel
10.90 top of channel
Tested support at bottom 6x
tested top 5x ( This trade hoping for a 6th) by Jan 19th.

This is a technical trade. Hoping to touch my target for a sell. If this turns bullish and runs, will hold. No upcoming events to be concerned about.

purchased 150 at 10.15 = 1542.5 (all in) which puts me at 2.435 for ( avg .price + break even)

Avg price: 10.28
profit taker = 10.9
loss = 9.78

I entered the trade hoping that this stock will stay inside the channel and not fall below.

Very extreme trading volume yesterday, although it did not result in any decrinable price movement. No news that I can find to explain the volume increase.

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