MAL: Magellan Aerospace

Magellan Aerospace is a company based out of Ontario Canada that provides equipment and solutions to aerospace (civilian, military, space). It is presently trading at 7.14. Its 52 week high is 17.09.

Prior to Covid-19 this was a good long term pick and was doing quiet well.

I purchased a 100 at B1. I will cost average buy purchasing 200-300 at B2 should it go down to that area. I will sell respectively at S1 and S2. I will continue to watch this stock as it grows. Last month the company made a bid through the TSX to purchase back up to 2,910,450 of its common shares over the next year, essentially, they want to buy back 5% of their ownership which indicates that the company has faith in its future.

This is a long term hold (1-3 years). Also, do not purchase if you are not willing to price adjust. In the short term, this may move down or trade sideways for sometime.

Finally, this is a good stock to watch if you are getting into trend trading because its slightly lower volume allows you to really understand whats going on with the price, etc...

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