Bullish on BA long-term, with it having broke past it's two year downtrend line stretching back from March 2019.
In the very near-term I'm expecting this to do either consolidate above this trendline to function as a bullish retest then go up further and break past (what I think) is a fairly weak resistance area of about 278-282. Due to it gapping down when it fell last year, this could rise up pretty quickly due to lack of significant resistance bands.
Regardless of the short-term, having broken that downtrend line was the most significant thing it could've done for a long hold.
In the very near-term I'm expecting this to do either consolidate above this trendline to function as a bullish retest then go up further and break past (what I think) is a fairly weak resistance area of about 278-282. Due to it gapping down when it fell last year, this could rise up pretty quickly due to lack of significant resistance bands.
Regardless of the short-term, having broken that downtrend line was the most significant thing it could've done for a long hold.
Note
Looking a little troubled but just waiting to see if this can back ontop of the multi-year downtrend line.Note
Regained ground above significant downtrendline:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.