BA prediction
Updated
113 is a key support level, if it breaks to this support it would most likely hold its downtrend, on the other hand it could go in a continuation pattern sideways. if we don't have any impulses Like positive news. It could bounce off the support at 113 the resistance zone from 130 to 134 would the level to check if this is a big bounce or just some resistance from the support level. Personally i'm going for the long period trade. Because this is more likely to be predicted. You could go short at it's resistance level (130/134 )once you see consolidation but only if you are a short trader who would like to keep it's position open for 1 day.
Note
Does anyone has a clue on the recovery price? Would it be around 400$ or would we aim for a new high? Personally I think Boeing will go for a new high because of the 777x, when air traffic is normal again. In 2017 we saw a massive climb in a relative short period because of the announcement of the 777x and off course the massive sales and the new 787. While the orders are still standing (For most of the airlines), we have hope for a new high and bright future for Boeing. Trade safe!
Note
We've hit a support on 113,50 with a large red candle, now moving towards support level at 133,00 if it breaks through we can look at resistance bars around 150/160. although the red candle was extremely bearish so I could be a fake out, hoping on some consolidation now for a new downing trend.
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.