Boeing Company (The)Short
BA - Bear flagging on the daily timeframe
Boeing on the Daily timeframe seems to forming a classic bear flag pattern.
I am not short yet on BA for below reasons:
1. From the Daily chart, BA has formed Hammer at the bottom trendline - which may indicate a price move to the upside
2. There is another trendline(blue) - watching to see its reaction there
3. Need a clear confirmation on the breakdown (bear flag breakdown) rather than jumping now
Added BA to my watchlist with alerts in place
if we indeed breakdown, targets to the downside will be 170-160-150
PS: No position yet on the short side, as I am waiting for confirmation
I am not short yet on BA for below reasons:
1. From the Daily chart, BA has formed Hammer at the bottom trendline - which may indicate a price move to the upside
2. There is another trendline(blue) - watching to see its reaction there
3. Need a clear confirmation on the breakdown (bear flag breakdown) rather than jumping now
Added BA to my watchlist with alerts in place
if we indeed breakdown, targets to the downside will be 170-160-150
PS: No position yet on the short side, as I am waiting for confirmation
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