The MIC (Macquarie Infrastructure LLC) Active Short Trade has been consolidating within this narrow triangle pattern for months following the breakdown & backtest of its primary uptrend line. In the last update, the previously suggested stop was listed a move above the May highs, which the stock has remained well below since. The suggested stop will now be lowered to a move 2% above the downtrend line & (upper-most TL on the triangle/wedge pattern). MIC will also offer an objective add-on or new short entry on a break below the white uptrend line. Price targets remain as previously posted with my current preferred swing target of 41.10 (T3, which is also the final target).
MIC Short Trade Update & New Trade Setup