Boeing Downtrend on daily time frame, waiting for more correction and find a good entry for sell position
4BA trade ideas
BA remains bearish We had a flat top bearish candle form yesterday on the daily chart with Heikin Ashi and it continued today.
Historically, from the formation of the flat top bearish trend, BA falls on average of 12%.
With earnings coming up next week (January 26th) I think we will have continued sell off.
There is also a lot of psychology backing my thinking. BA has been performing so poorly this year and has been THE biggest drag on my long term holdings. You can bet that I was quick to cut them loose once we came back to the 220s and took my profits there. I bet many other people who were invested in this long term are also looking to GTFO of their BA positions because it has just been such a drain this year, the company fundamentally is poorly managed and its future is being challenged with makers like Airbus and Embraer (I personally took the money I had invested in BA and moved it over to Airbus because of the clear display of poor management BA has had over the past 2 years, I was just greatful that I didn't have to take a loss).
My price target is $200 (10% pullback) and then $194 (13% pullback) if 200 support is broken. I could be wrong. Who knows. BA and TSLA are like the psycho ex that just doesn't listen and does things just to screw you over. But we will see!
Disclaimer: NOT financial advice. These are my opinions and I have been known to be wrong.
BAWe did break the dow sloping resiatnce of this considation around 223$. Howver the key reistNce to watch is 234$ if we close above 234 all longs should be placed as that is our monster weekly resiatnce until that happens it’s easy for BA to fake out or pull back as this consildation range has chppped for months between 204-234 with 2 wicks to 187. That being said stay patient and ready for a break and hold above 234 until the i would sit on your hands. If you do want to place upside bets just watch 222$ area for break as that could be a warning sign.
BA - Looks to Breakout Above Descending ChannelBA is currently in a well-established descending channel that's part of an underlying uptrend. And it seems ready to breakout past the channel's resistance. It is worth noting that BA has experienced similar descending channels twice before and price resolved higher and continued upwards both times. In this case we should be looking to enter long right after a breakout and hold until price faces a notable level of resistance - taking a conservative standpoint, I think this resistance will occur at the $257 level. Place your stops right below entry, if former resistance doesn't turn into support, the trade premise will be invalidated.
Considering that omicron has peaked in many countries and as border restrictions ease around the world, we could see another bullish period for travel. Technicals of other travel stocks also look quite strong while health care stocks look weak(er). We could see bulls take control of the travel sector in the coming weeks.
BA - SELL strategyWe have been moving up steadily and now the DC is showing some likely top area. The stochastics are still positive and MACD is well.
We have good support $ 205, but feel judging the DC top and also the next resistance level, we may see this as a SELL opportunity. The earnings will be released 26th January 2022.
For now SELL current $ 226-228 area for a move back to $ 210 > 205. Stop-loss I prefer to keep that at $236 for now.
Boeing - Get ready to sell and go short$8.25 is what Boeing is looking to move this week from Fridays closing price. I think the chart explains it all. No questions will be answered. I will let the emotional people fight amongst themselves but mark this post and come back in 8 months. You will see my posts are beyond accurate. Good luck. For the record, I started my short position at 226.50
$BA pivotWatching for reaction off double top and 1.0 st dev of pitchfork. Overextended beyond the 9ema daily. Puts if it fails to break 227 or below 221.24. Bullish engulfing hammer daily and displayed good relative strength and rvol on a downtrend day in the indices with ER runup Jan 26 and airlines ER this week and last week as a catalyst. Calls if it breaks 227 with volume.
Boeing looking to break out of downtrend channel. Keep on watch!
Look for Boeing next week to breakout of this channel or reverse back into channel. Time will tell, best of luck traders!
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Question will BA break out or continue the downtrendBA is in a meaningful downtrend. However much has changed. First they may be finally able to go back into production and complete deliveries now that China has signed off.
Second the wildfire that is Omicron is expected to burn out quick. People are sick of the covid and want to travel.
what will happen next? 1 Breakout 2 resume downtrend
This deserves to be watched.
BA short (pt. 4)I have revised my chart after BA broke above what I believed was a resistance line. I took my BA puts at 110% gain as BA turned on me and started to reverse higher. As for now I am still short BA and am now going to rely on the revised chart which still appears to be in a descending channel, but could also play out to be a bearish megaphone pattern. I picked up puts for Feb. 25 exp. @ktaba likes his steak medium. I, however, am a little more barbaric and prefer a little more moo in my meat. @ktaba medium rare for me ;)
Not financial advice
