Standing aside and waiting for next set up

MAR has been a good trade for us this year but our stops were hit and the complete trade exited as price started to decline after the big up trend.

Price has broken out of the channel indicating near term strength but the next resistance is at the 50 MA on the daily chart which is not too far away and could prevent price finding further strength.

Earnings are due at the end of October so we will wait until after the release of this and then a breakout before considering any new positions.