Is BA Boening ready ?On the daily chart BA had big trend up for November and December but then fell with news
of issues the the Max model which further developed into an FAA inquiry. In the meanwhile
Thailand and India based airlines contracted for more jets and an earnings report beat both
lines especially earnings. It would seem forward earnings are fortified by those new contracts.
The chart shows price currently sitting at the support of the bottom of the high-volume
area of the volume profile and just under the nearby POC line. In confluence, it has been in
consolidation at a Fibonacci level. I consider that BA has been accumulating within a narrow
range and is now well situated for another leg up. The last trend up was about 50% over 2
months. I will take a long trade here anticipating a similar move sometime soon. Targets
are 230 and 250 with call options for August or September also under consideration.