BA-2
Trend Reversal Confluences: Down to Up.BA is in a major uptrend. I'm taking the easy ones this time. If only that were my mindset all the time.
Anyway this is a much more clear cut example than my first attempt with the downturn predict.
This example, there is a lot more data to work with and it is easy to draw in control and channels.
Maybe a good thing to learn from this is not to try to predict trend changes so early, but to use the signs as confirmation for a buy/sell entry as the trend is looking young and healthy.
$BA PT --> $305 ---> $328Good retest of previous break out area which is now support $245. I expect $BA to make a run up to the median of the pitchfork level again soon.
Using fibonacci lvls we can see key resistance as pointed out in the graph. $BA is know to move big in a short time period and April is historically $BA best month
Possible Upcoming Catalysts:
C1 - Southwest order rumored to be very big
C2 - FAA inspection of 787 approved and $BA can resume deliveries ✅ ($BA resume deliveries of 787 Friday 26)
C3 - Report second consecutive month of a net positive orders to cancellations figure in second Tuesday of April
C4 - Re-Opening trade still has more room to go especially Boeing who has been lagging among industrials
C5 - Biggest and least likely imo would be for China to end the ban of the 737 Max = the Chinese are huge buyers
BOEING INVERsE HEAD & SHOULDERS 1HThe S&P 500 retreated to its trend support this last week and bounced big time back near all time highs. That being said, I'm bullish on the market this week. Boeing has a very nice looking chart on the daily time frame finding support after a swing high and I've discovered a very clear inverse head and shoulders pattern form on the hourly chart. A break of the neckline will be the trigger for me to look to go long. I'll be buying the pull back after the break this week for a swing trade. Reference my chart for a further breakdown of this trade idea. Thanks for reading and good luck out there!
LMT, Lockeed Reversal? Missiles + Defence Budget + AirlinesSee chart, Possible reversal. Momentum increasing. Should benefit from the next stimulus containg airlines aid packages. It may take some time since the whole market is in the worst shape right now and looks like it really want to correct. If it doesnt LockeedMartin will fly again.
PT: 357$
PT extended: 380$
NETFLIX and CHILL into EarningsThe TOSOPTION algorithm continues to sell short NFLX; however, momentum has decreased in acceleration and could reverse net positive. Last week NFLX over the weekend strategy TGIF was a success and we expect the same trade to generate another winner which will be 2/2. On Thursday March 25, NFLX gap at 498 was the last gap to fill and now the only remaining gaps within the NFLX price structure is located at 520 and 540. Last week's TGIF closed at 542.76 which as the intraday high for the week. We expect 542.76 to be taken out March 29 and follow thru into April 1.
pennant on BA chartBullish pennant on 4H chart with declining volume. Sellers might be running out of steam. BA also popped up with unusual call option activity coming from the institutional sector just based on the size of the trades/cost of options and surprisingly they were options that expire this week.
What do you think it's going to do? Pop off and make those options print or trade sideways as lockdowns take hold again in Europe with concerns that the US may follow? The chart looks bullish but the macro factors seem bearish in the short-term.
BA Boeing We saw in January 27 2020 and 1 February 2020 a 2 bottom formation (bullish sign ) , but for now I can identify the top of rising wedge and seams to be a bull exhaustion with a small pullback. In a long term I`m bullish on BA with the vaccine the Aerospace & Defense Industry and transportation sector can come back to normal.
Boeing in recovery phasePotential gain:20%
Reward/Risk:5
Timeframe: 1-4wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
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BA (NYSE) - Bullish TrendGreetings
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BA (NYSE) - Bullish Trend
BA breakout with high volumeRecently BA has reached the TP1: $132 and later on TP2: $252 following the trend lines, in different waves.
Now it broke the ascending wedge for briefly and retraced, but on a closer view we can see a double bottom in another ascending wedge formation.
BA could either reach $155 and retrace, or if it finally breaks up it seems to have little resistance until the $330 with a +30% reward for TP3.
Happy trading!