Boeing Company (The)Short
Boeing Stock Short-Term Short Trade
Trade Details:
Analysis:
The double top pattern indicates a possible reversal from recent highs. The break below the neckline at $162.38 suggests increasing bearish momentum. A move into the $158-159 range may confirm the downward trend.
Trading Plan:
- Entry Price: Shorted at $165.
- Pattern Identified: Double Top formation at the $165 level.
- Neckline Break: Price broke below $162.38, signaling potential further decline.
- Confirmation Zone: Watching the $158-159 range for additional bearish confirmation.
Analysis:
The double top pattern indicates a possible reversal from recent highs. The break below the neckline at $162.38 suggests increasing bearish momentum. A move into the $158-159 range may confirm the downward trend.
Trading Plan:
- Stop Loss: Set above $165 to limit potential losses.
- Target: Aiming for profits if the price continues to drop below $158.
- Time Frame: This is a short-term trade focusing on quick market movements.
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