Boeing too big to fail?
Updated
Its interesting looking at Boeing and only reason doing TA is cause fractional shares exist, but someone asked me if its possible for it to go back to 230. Now this stock might not be the biggest gainer, but atm its on its own path towards airlines stocks with American and Spirit in fight who is gonna win, yet it is possible for both to survive and if American airlines falls I would go United and Spirit. Yet we aren't hear to talk about Airlines in general, but boeing does make the planes.
News
-Boeing Ceo painted a grim future short term for Boeing and also suggested an Airlines isn't doing so great and could fall (maybe American or Spirit?), yet Boeing went up the next day with positivity coming out after negative nancy
-Boeing got permission to start building the next gen planes
-Earnings coming up (yet is the negativity price in?)
TA
-From what you see is a fib retracement from 230 to about 165, which it did double bottom and it broke out of a downtrend recently, yet has been going sideways in the red zone.
-If it does drop could see a decline around 5%-13% with worst case it going back to 145 with that being a 19% drop at current price. The 19% drop is a 38% drop from its high, which isn't alot for a crypto veteran, yet I think this company is too big to fail, so i suspect a 13% drop on worst case on earnings.
-The bullish upside is a 9% gain going back to around that 200 dollar level
-Looking at the MACD it looks bearish for tomorrow, yet again it is tighting with the vpvr around the price range we are at
-RSI is neutral, but trends to oversold. Again looking for a morning drop looking around that 176-174 range if it can hold it as shown with the vpvr going from 174-169
Final thoughts
I think this company to big to fail and will be interesting on how earnings will be with Boeing going back to production and getting a feeling that the government will back them up. Will i buy this stock? No cause I'm not looking for a 9% return on a trade and still think my NCLH postion is fine as CCL is struggling and RCL going alright (NCLH price target was raised from 12.50 to 19 today and it sits under that target as RCL got moved up, but its current price sits above it), yet I would maybe get in a small long postion on boeing with the upside looking good if the morning session pops.
News
-Boeing Ceo painted a grim future short term for Boeing and also suggested an Airlines isn't doing so great and could fall (maybe American or Spirit?), yet Boeing went up the next day with positivity coming out after negative nancy
-Boeing got permission to start building the next gen planes
-Earnings coming up (yet is the negativity price in?)
TA
-From what you see is a fib retracement from 230 to about 165, which it did double bottom and it broke out of a downtrend recently, yet has been going sideways in the red zone.
-If it does drop could see a decline around 5%-13% with worst case it going back to 145 with that being a 19% drop at current price. The 19% drop is a 38% drop from its high, which isn't alot for a crypto veteran, yet I think this company is too big to fail, so i suspect a 13% drop on worst case on earnings.
-The bullish upside is a 9% gain going back to around that 200 dollar level
-Looking at the MACD it looks bearish for tomorrow, yet again it is tighting with the vpvr around the price range we are at
-RSI is neutral, but trends to oversold. Again looking for a morning drop looking around that 176-174 range if it can hold it as shown with the vpvr going from 174-169
Final thoughts
I think this company to big to fail and will be interesting on how earnings will be with Boeing going back to production and getting a feeling that the government will back them up. Will i buy this stock? No cause I'm not looking for a 9% return on a trade and still think my NCLH postion is fine as CCL is struggling and RCL going alright (NCLH price target was raised from 12.50 to 19 today and it sits under that target as RCL got moved up, but its current price sits above it), yet I would maybe get in a small long postion on boeing with the upside looking good if the morning session pops.
Note
Was a 28% correction on the fib not 38%. 38% is worst case
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