Usually people see decending triangles for a continuation to the downside. I will view it as a indicator for something about to occur as it keeps getting tighter within the triangle. With the DOW at about 50% retracement if you plot from High to low and do it for Boeing, I believe it is lagging and price should be $220 if it is fufilled. There is still a need for military technology and it will continue to innovate. I have 1 BA $135 Call for $25.50 August 21. I would like to sell it for $80.
Note
1) As Per Robinhood News: "Berkshire Hathaway reported a huge first quarter loss of $49.7 billion"2) As per Marketwatch News: "Back in April, Berkshire Hathaway BRK.A, -2.74% BRK.B, -2.50% disclosed that it sold large blocks of stock in Delta Air Lines DAL, -6.90% and Southwest Airlines LUV, -6.46%."
I wonder if this will have an impact on Boeing. If it heads back below $87 per share, I will buy another contract for Boeing preferably at the money with a longer time till expiration. I am comfortble with the risk tolerance of the current contract I own.
Note
Respect the TA! Love watching MitchRayTA on Youtube.Trade closed manually
Exited 1 BA $135 Call for $86.2 August 21
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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.