I had discussed this stock on the Live Market Meet of 14th Apr. 

It is up by more than 7% today.


The video of that live session is on my YouTube channel.

You may see if this stock gives a Go With Flow long setup today or in the coming days. Such a setup is not there right now.

For the industry too, it is a very strong industry right now. Though, it seems to be improving slowly.

It is an undervalued stock.

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How I booked at least a partial profit at 11% profit on $MIK within less than one day?

1) I shared the trade idea yesterday. I had taken a long position at that time.

2) One could take the trade as MIK broke out of the Early Range High. I had entered a little bit later.

3) By the end of the day, the trade already had a nice profit for a day. I did not book any profit.

4) Today the stock opened with a Gap Up. I am not bullish on the overall market (neutral was my market outlook in the weekend market roundup and it remains the same). Plus, there was not a confirmed Go-With-Flow setup when I took the trade yesterday. I took it in anticipation.

5) As I had more than 11% profit in the trade at the open, I decided to take some money off the table. And put a trailing stop on the remaining position to see if I can let profit run.

If I was bullish on the market and if MIK had a confirmed GWF long signal, I might not book profit so quickly. Then again, I never got poorer by booking a 10% profit in stock in less than one day.

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