BA - Symmetrical Triangle" in an "Ascending Triangle?"
Boeing received good news, "Boeing Max Edges Toward China Return as Test Flights Near."
- 20MA & 50MA above the 200MA.
- Bullish Engulfing pattern on Thursday (7/8/21) w/ strong bullish volume.
- Bounce off of Symmetrical support. Could revisit 200MA (yellow line) to test a bounce if bullish momentum is short lived.
However, I am uneasy about the market in general (inflation, COVID variations, etc.). BA could potentially drop back to $221 before climbing to $253.65, unless more good news is released.
Short Term: BULLISH (2 weeks)
Hedging with 8/20 Puts wouldn't be terrible.
- 20MA & 50MA above the 200MA.
- Bullish Engulfing pattern on Thursday (7/8/21) w/ strong bullish volume.
- Bounce off of Symmetrical support. Could revisit 200MA (yellow line) to test a bounce if bullish momentum is short lived.
However, I am uneasy about the market in general (inflation, COVID variations, etc.). BA could potentially drop back to $221 before climbing to $253.65, unless more good news is released.
Short Term: BULLISH (2 weeks)
Hedging with 8/20 Puts wouldn't be terrible.
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