2021-11-18
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...
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...
MAL has been trading within a channel for several years now following a very predictable cycle rallying to the top of the channel after Q4 and Q1 earnings release.
