BAE (BA.) short
One name that I think looks really attractive or scary depending on the way you look at it is BA., this defence giant since posting a new high in July 2018 has embarked on a decent steep enough to give the most ardent roller coaster enthusiast week knees. After the massive move down the stock finally found some support at 450 before a brief bounce and is now making its way back to that level but is taking a breather around 460 which is where we find ourselves today. I really like this set up, after a gap down the price has been moving sideways before we decide where were going next this is shown by the 10 day average volume being 19% below the 3 month average suggesting to me that people are waiting to see how this area plays out. My plan is to play for a break of the 461 level with my stop entry being set at 458.9 just past the low of the previous attempt at the level. the next major support should be found at 450 where I will trim a 3rd of my position. Past that 440 will be the next trim which will leave 1 third of my original position left to run freely using a weekly high trailing stop after the move down. I hope you enjoyed this post, if you share my views be sure to get in touch or if you have an other UK stocks you think are worth looking into ill be more than happy to chat to you about them. Happy trading.
Joe
BA.
Joe
BA.
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