War/Defence Stocks: Macro Fib SchematicsThis handcrafted idea using Advanced Fibonacci Tools beholds 6 of the largest War Mongering "Defence" contractors.
( Raytheon, Boeing, Lockheed Martin, Northrop Grumman, General Dynamics, L3 Harris Tech )
These Fibonacci Schematics show all price manipulation of Support and Resistance. I've started the timeline at 1999 for many reasons. One being the already conceived and "soon to be" conflicts of the Middle East with the "war of terror." (Give me a break)
2001 kickstarted another HUGE flow of stimulus into these defence contractors to fund the West's newest war to keep people "proud to be an American". Solely by continuing the collective punishment of millions of people in the Middle East region. This had already been going on for about 2 decades at least before 9/11.
The American Government killed hundreds of thousands to millions of Iraqis and Afghanistan people through this collective punishment. They needed a way to continue their genocidal intent and ethnic cleansing with a false flag terror attack to get the American People back on their side. 9/11 brought out the worst in our country and the "PatRioTiC" US citizens green lit their leaders to dish out more collective punishment even though their leaders had been lying though their teeth for countless years.... I need give only one example with "weapons of mass destruction"
Obviously this matters because these Defence Contractors have blood all over their hands that they are basically swimming in it.
Anyways, this is just a Macro Analysis. These lines represent death and destruction so investing in them is a moral dilemma which I obviously advice against.
Beoing
Beoing at overbought extremes.The Boeing Company - 30d expiry - We look to Sell a break of 168.38 (stop at 175.05)
We are trading at overbought extremes.
Trading within a Corrective Channel formation.
A break of the recent low at 168.50 should result in a further move lower.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
Bearish divergence is expected to cap gains.
This stock has seen poor sales growth.
Our profit targets will be 151.71 and 149.71
Resistance: 180 / 190 / 198
Support: 171 / 163 / 155
Disclaimer – Saxo Bank Group.
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Boeing Should Remain Heavy For More DownsideIn Boeing, the broader view suggests that it’s correcting the cycle from March 2020 low cycle. While the decline since March 2021 high is unfolding as Elliott wave double three structure with the combination of 3-3-3 swings lower. Favoring more downside towards $167.46- $121.90 target area before it can find support for a 3 wave bounce at least. However, looking at the shorter cycles the decline from the 10 February 2022 peak is unfolding as an impulse sequence as part of a wave 3 within (C) leg lower and should remain heavy on to the bounces for more downside.
Whereas the initial decline to $207.10 low has ended wave ((i)). Up from there, a 3 wave bounce to $219.67 high ended wave ((ii)). Then a decline in wave ((iii)) unfolded in another lesser degree 5 wave structure where small wave (i) ended at $212.67 low. Wave (ii) ended at $215.88 high, wave (iii) ended at $197.82 low, wave (iv) ended at $203.25 high, and wave (v) ended at $186.88 low. Above from there, Boeing is doing a 3 wave bounce in wave ((iv)), which is expected to unfold as a lesser degree zigzag structure, which can reach as high as $199.41- $203.28 area before resuming lower once again.