BA
Bullish flag for Boeing- time to lift off?Boeing's recovery is steady and the uptrend is not that aggressive as other stocks recovering since the first lockdown, but that's because of the specific industry that Boeing is in, hit hard by the COVID-19 pandemic.
We have a small correction inside the uptrend, but that may end soon, as we have formed a bullish flag. RSI has already provided a bullish signal. MACD's histogram starts to hint for a turnaround, yet no crossover.
Yesterday's attempt to breach the flag was unsuccessful, but Boeing is definitely a stock to watch.
BA better play when reach 250 NYSE:BA a better place for trade is once it fills the 250s gap and closes above it. Then it has resistance at 300 (Gap# 2) and a better profit margin. In fact, it can go to gap# 3. easily. Play strategy
- Buy around 250 with SL 235. Hint: Stop loss calculation Buy Price - ATR * 1.5 .
- Take capital out around once reach 300 (gap# 2) and leave free money to run.
- Close trade once gap# 3 touch around 321.