Keep eyes on Boeing - a lot of room for a promising recoveryIt took some time for Boeing to break out of its bullish wedge, but the support held well, and we see some more stubborn attempts from buyers to push the price up.
RSI is rising above 50, MACD has crossed over and the histogram is moving slowly towards positive territory. Earnings are after 7 days. so keep that in mind. An impulse above $216 will confirm the continuation of the bullish trend. My long term target is $250.
BA
BA Take profit mode off completed Bearish BAT patternBA is in take profit mode.. basically using the top of the move $213+ algos will retrace at minimum down to 61.8 fib.
Best entry short was $213 so manage trade carefully with stops.. You can use the 20sma on the Daily as a guide as price recently rejected perfectly showing short term sell bias..
There is some price imbalance below so there are alot of things to like here.
If you decide to short cover at 61.8 fib by rule. There could be further downside but that would be another setup.
Good luck!!!
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.