Hey folks,
From what I see Boeing is setting up for a nice move upwards.
There is a double bottom pattern here and has broken the neckline. Currently, price is consolidating. Eventually, the price should break out of this and hit the purple area, which might act as resistance. Interestingly enough, the MA is also hovering near this purple area.
But, I expect a 20 plus dollar move (at the least) given this chart pattern. Given that this pattern has been formed on the weekly chart, I expect this move to take place over the next few weeks. Momentum may be slowed due to end of year holidays, lighter trading volumes, and institutions clearing their losses getting ready for the new year. Nevertheless, I expect BA to hit $200 by the end of January. I am not saying that price will end up there by the end of January, it might hit by price target earlier.
Don't listen to me. I know enough to know that I know nothing. Do your due diligence. I currently don't have a position yet, but that is why I am posting this now. It is something I saw at today's close and will be looking to get into by the end of this week, if my conditions are met. The price move has not happened yet, so there is still time to get in.
From what I see Boeing is setting up for a nice move upwards.
There is a double bottom pattern here and has broken the neckline. Currently, price is consolidating. Eventually, the price should break out of this and hit the purple area, which might act as resistance. Interestingly enough, the MA is also hovering near this purple area.
But, I expect a 20 plus dollar move (at the least) given this chart pattern. Given that this pattern has been formed on the weekly chart, I expect this move to take place over the next few weeks. Momentum may be slowed due to end of year holidays, lighter trading volumes, and institutions clearing their losses getting ready for the new year. Nevertheless, I expect BA to hit $200 by the end of January. I am not saying that price will end up there by the end of January, it might hit by price target earlier.
Don't listen to me. I know enough to know that I know nothing. Do your due diligence. I currently don't have a position yet, but that is why I am posting this now. It is something I saw at today's close and will be looking to get into by the end of this week, if my conditions are met. The price move has not happened yet, so there is still time to get in.
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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.