BA: Short now to go Long later
See A/H 
BA is setting up for a continuation fall. Both 4H & Daily charts look to drop further towards 210 (possibly 204 region). This digestion looks like a diving board. It could be a quick & decisive move. It has broken, tested & held below the 50% zone of recent fib move which means it should flirt to 61.8% then with 213 (88.7%). 210 & then 207(~1.272) are in play as well. The move looks solid on higher timeframes as well. This would be a great buying opportunity Long term especially if 204 is attained. Shorting this trend could finance longer term calls (2+ weeks out). Calendar spreads, Call Debt Spreads even Leaps. This would be healthy for the move towards 300. BUT multiple supply & demand zones are hampering this move up. Supply is 225-238. Tested over 6x now since June '21. So weakened. This could be the last move down before ascending to 240+. However, caution is needed. In the sub-210 region it is shakey with ~205 demand zone support YET 200 has not been tested much & is a Line in the Sand. Approach with caution. If BA loses this, the rabbit hole could be deep. There is a gap around 160. Ugh.
BA is setting up for a continuation fall. Both 4H & Daily charts look to drop further towards 210 (possibly 204 region). This digestion looks like a diving board. It could be a quick & decisive move. It has broken, tested & held below the 50% zone of recent fib move which means it should flirt to 61.8% then with 213 (88.7%). 210 & then 207(~1.272) are in play as well. The move looks solid on higher timeframes as well. This would be a great buying opportunity Long term especially if 204 is attained. Shorting this trend could finance longer term calls (2+ weeks out). Calendar spreads, Call Debt Spreads even Leaps. This would be healthy for the move towards 300. BUT multiple supply & demand zones are hampering this move up. Supply is 225-238. Tested over 6x now since June '21. So weakened. This could be the last move down before ascending to 240+. However, caution is needed. In the sub-210 region it is shakey with ~205 demand zone support YET 200 has not been tested much & is a Line in the Sand. Approach with caution. If BA loses this, the rabbit hole could be deep. There is a gap around 160. Ugh.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.