Medium term
Trade view / 14 September 2015 at 14:54 GMT

Macquarie could be a mid-term opportunity

CEO / Att Trading
Instrument: MIC:xnys
Price target:
Market price:

New York Stock Exchange-listed Macquarie Infrastructure Corporation invests, owns and operates infrastructure assets through its subsidiaries in the United States.

The stock price has risen since January 2011, from about $15.00 to $88.00 (Figure 1). The appreciation could be seen as forming a stable uptrend, which corrected several times in the past to the drawn trendline and the 100-day simple moving average. 

Now, medium-term traders should take notice that the stock has made a strong correction, and a local downtrend has formed on the daily chart, which could correct to the area around $80.00 a share.

Figure 1: MIC weekly chart
Source: ATT Trading

Management and risk description

The daily chart (Figure 2) clearly shows that a strong downtrend has formed, which is shown in blue.

For a medium-term short opportunity, traders can look for a subordinate trend in the current correction for an entry, when the 200-day simple moving averages serves as resistance and the value starts to fall again. With increasing selling pressure, the areas of $70.00 and $63.00 could be targets for this trade.

Above a price level of $81.00 our short idea would be ended. 

Before entering a trade, it is always advised to wait for clear signals and look for company news, such as earnings or guidance.

Figure 2: MIC daily chart

Source: ATT Trading


Entry: $80.00

Stop: $80.50

Target: $70.00, $63.00

Time horizon: medium-term

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more


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