BA- Buy the recovery? or take partial profits? LONGBoeing had a near disastrous start to 2024 with a Malaysian part falling off a MAX jet at 36,000.
Incidentally, going viral is that an iPhone survived the plunge fully functional. 20% got
shaved off the market cap. I bought the low with calls at $215 expiring March 15'24. They did
80% for the week and 16% today. News catalysts are that an East Indian airline company placed
a contract for the purchase of 100 jets of uncertain model. Delta Airlines also did not pull their
existing contract. These catalysts have allowed price to recover about 1/3 of the plunge. The
15-minute chart demonstrates the super trend reversal better than the 60 minute which is
shown here on the idea. The relative volume indicator is about 3 X the running mean showing
trader interest uptick. BA could short squeeze where short sellers quickly buy to cover &
capture profit while the synergistic rise is compounded by near buyers coming in to get ahead
of the chasing? The caution is that the POC line on the intermediate
term volume profile is $ 210 and so getting contracts extended above that has increased
risk based on price distance from the POC. The uptrend instead of a true recovery could be
simply a correction in the overall downtrend. I will take some of the week's profit off
the table and keep a close watch on the price action.
BA-2
BA Trade Setup into Earnings by Fib Retrace / Volume ProfileBA is shown on a marked up 120 minute chart with a Volume Profile and Fibonnaci retracement
levels as well as the trend angle reversal at the consolidation upon finding support at the
bottom of the high-volume area of the profile. The fib levels suggest targets. Risk in the trade
is after earnings reports of "beats" will drive the action higher or "misses" will cause a down
trajectory. Volatility will increase as the earnings date quickly approaches. Some traders may
want to close a winning trade just before earnings or take a predominant partial close leaving
the the rest to move through the storm looking for blue sky.
I have a risk appetite here. I will take call options for February 5th striking OTM at $240.
I will cut them no later than 24 hours before earnings or when they hit 200% if that happens
beforehand.
CAn Boeing weather the storm BA LongBA on a daily chart is trading in the bottom portion of its intermediate-term trading range
having incurred a series of adverse news catalysts, FAA investigation and loss of trader
sentiment. It is now in the lower portion of the high volume area and below the POC line.
There are multiple touches of a horizontal support before and after a big earnings beat.
The question now is whether BA can mount a good fibonacci retracement of the prior
downtrend. I believe that it is quietly acumulating volume and shares at a given price for
a solid base from which to make a trending move upside to the Fibonacci levels on the chart
and perhaps in time after another good earnings head toward the pivot high of last year.
I will go long from here finding good cause to buy at this discount.
Is BA accumulating for an another leg higher ? LONGOn this 120 minute chart of BA where price is a blue line I have superimposed a RSI from the 4H
time frame. Each is on its own scale RSI is 0-100 while BA is the actual price level. This set
up detects divergences to forecast near-future price action. One the chart text box comments
serve to explain this a bit more. Basically if price is flat and RSI is rising divergence is there.
Likewise if RSI is falling and price is sideways there is bearish divergence. It follows that when
the RSI line is above price and price is rising, if the slope of RSI exceeds the slope of price,
that is a bullish bias. If price is falling and is above the RSI which is falling faster that is
a bearish bias. At this time, I believe that institutions are making small ( for them )
incremental buys trying not to move price until they get their quota. Price is currently
below the mean VWAP anchored into the distant past. Most buying and volatity will occur
at that price. I want to get in early. I will buy call options above current price near to
the VWAP so striking $210. So far BA has been very good to me actually a cash cow because
of the strategy used. I have two contracts at $220 for July. If things go well with this
trade, I will use the profits to buy a contract for expiration in September and spread the
risk over more time as a risk-off strategy. A stock share long trade is good from here for an
investor but the price ranging is not enough for your average trader. Fundamentally BA has
had plenty of good news and bad news. I focus on the good news. The new contracts to buy
coming out of India and Thailand point to future earnings stability something that suggests
the time to trade is now.
Boeing in Talks to Buy Spirit AeroSystemsBoeing (NYSE: NYSE:BA ), the aerospace giant, is reportedly in discussions to acquire Spirit AeroSystems, its struggling former subsidiary. The potential merger comes as both companies grapple with persistent quality issues and cost pressures related to the production of the 737 MAX aircraft.
Spirit AeroSystems, which was spun off by Boeing ( NYSE:BA ) in 2005, has faced challenges in recent years, leading to concerns about aircraft deliveries and financial stability. The prospect of Boeing ( NYSE:BA ) acquiring Spirit underscores the aerospace giant's efforts to address these issues by bringing the supplier back under its umbrella.
While Boeing ( NYSE:BA ) and Spirit have yet to confirm the discussions, reports suggest that talks are underway, with Spirit exploring strategic options and engaging in preliminary discussions with Boeing ( NYSE:BA ). The move could provide Boeing with greater control over manufacturing processes, potentially alleviating some of the quality concerns that have plagued its aircraft production.
The news of the potential acquisition has sparked market excitement, with shares of Spirit soaring over 13% while Boeing's ( NYSE:BA ) stock experienced a slight decline. Analysts view the move as an opportunity for Boeing ( NYSE:BA ) to address Spirit's challenges and achieve cost savings through economies of scale.
However, the acquisition also raises questions about regulatory risks and potential hurdles associated with integrating Spirit back into Boeing's operations. The aerospace industry is closely monitored by regulatory authorities, particularly in light of recent incidents such as the January 5th incident involving a 737 MAX plane.
Despite the challenges, industry analysts believe that bringing Spirit back into the fold could benefit both companies in the long run. By consolidating manufacturing operations, Boeing may be better positioned to improve quality control and streamline production processes.
Additionally, the acquisition could provide a lifeline for Spirit, which has faced cash flow problems and quality issues in recent quarters. With Boeing's ( NYSE:BA ) support, Spirit may be able to stabilize its operations and regain investor confidence.
Overall, the potential acquisition of Spirit AeroSystems by Boeing ( NYSE:BA ) represents a strategic move aimed at addressing quality concerns and enhancing operational efficiency in the aerospace industry.
Boeing's Medium-Term Challenges: Implications for InvestorsBoeing, a cornerstone of the aerospace industry, has outlined ambitious targets for 2025/2026, aiming for a multiyear uptick in airplane production and substantial improvement in its defense sector. However, challenges in meeting these milestones have surfaced, prompting investors to reassess the stock's trajectory and long-term potential.
Management's vision for 2025/2026 includes achieving $10 billion in free cash flow (FCF) after deducting capital spending, a target crucial for Boeing's financial health and investor confidence. Yet, recent setbacks, including manufacturing quality issues and delays in Boeing 737 deliveries, have cast doubt on the feasibility of these goals.
The delay in reaching these targets is not solely due to supply chain disruptions but also stems from persistent manufacturing quality problems, exemplified by recent incidents like the Alaska Airlines flight panel blowout. These challenges have prompted management to postpone 2024 guidance, signaling potential hurdles ahead.
Furthermore, Boeing Defense, Space, and Security (BDS) have consistently reported losses, adding another layer of complexity to Boeing's roadmap. While industry peers face similar margin pressures, Boeing's reliance on fixed-price development programs in a challenging economic environment exacerbates the situation.
Despite these setbacks, Boeing's CFO remains optimistic about reaching the $10 billion FCF target, albeit acknowledging potential delays. The timing of achieving this milestone carries significant implications for investors, with projections suggesting a potential stock return of up to 56% if achieved by 2025.
However, Boeing's current debt obligations underscore the urgency of achieving these targets for debt repayment and future investments. CEO David Calhoun's indication of a new Boeing plane not before 2035 emphasizes the importance of maximizing FCF in the interim.
While Boeing's long-term prospects remain promising, investors must consider the timing nuances of its FCF generation and operational challenges. Other aerospace stocks may offer better short-term prospects, highlighting the need for Boeing to demonstrate consistent operational performance to regain investor confidence.
In conclusion, navigating Boeing's medium-term challenges requires a careful assessment of its ability to overcome manufacturing hurdles and achieve its FCF targets. While the stock holds long-term potential, addressing current setbacks is essential to reinforce investor trust and pave the way for future growth.
Boeing Faces Yet Another Setback737 Max Fuselage Issues Cast a Shadow on Production
In a recent development, aerospace giant Boeing (NYSE: NYSE:BA ) has encountered a fresh hurdle in the form of misdrilled holes on approximately 50 undelivered 737 Max jets, raising concerns about potential delays in deliveries. The setback, discovered by a supplier's employee, has prompted Boeing ( NYSE:BA )to initiate rework measures, shedding light on ongoing challenges in the production process. While Boeing refrained from disclosing the supplier responsible, industry sources point to Spirit Aerosystems (SPR), the provider of the affected fuselages.
Drawback
This incident comes on the heels of a mid-air scare on January 5, where a section of a 737 Max 9 fuselage detached during an Alaska Airlines (AAL) flight. The ensuing investigation and subsequent grounding of the 737 Max 9 by the Federal Aviation Administration (FAA) not only disrupted operations but also cast a spotlight on Boeing's ( NYSE:BA ) production quality. In response, the aerospace giant has intensified its efforts to address and rectify potential issues.
The Fuselage Problem:
The misdrilled holes on the 737 Max jets represent a critical lapse in the manufacturing process, as even seemingly minor deviations can impact the structural integrity and safety of the aircraft. Boeing's ( NYSE:BA ) acknowledgment of the issue underscores the gravity of the situation and raises questions about the effectiveness of existing quality control measures.
Supplier Involvement:
With Spirit Aerosystems identified as the supplier of the fuselages in question, attention is now turning to the relationship between Boeing and its key suppliers. This incident could potentially strain these partnerships, as both Boeing ( NYSE:BA ) and Spirit Aerosystems may face heightened scrutiny and pressure to ensure stringent quality checks in their collaboration.
Impact on Deliveries:
As Boeing ( NYSE:BA ) addresses the fuselage problems, concerns linger about potential delays in the delivery schedule for the 737 Max jets. The aerospace industry is already grappling with supply chain challenges and heightened scrutiny from aviation authorities. Any further disruptions to production and delivery timelines could have cascading effects on airlines relying on the timely integration of new aircraft into their fleets.
Regulatory Oversight:
In response to recent incidents, the FAA has heightened its production oversight, signaling a more proactive stance in ensuring the safety and compliance of Boeing's aircraft. This increased scrutiny adds an additional layer of pressure on Boeing ( NYSE:BA ), necessitating a comprehensive review of its production processes and quality control protocols.
Conclusion:
Boeing's ( NYSE:BA ) latest setback with misdrilled holes on 737 Max fuselages amplifies existing concerns about the company's production quality and its ability to navigate challenges in a demanding aerospace industry. As the aerospace giant works to address these issues, industry stakeholders, investors, and aviation enthusiasts alike will be closely monitoring developments, hoping for a swift resolution to ensure the continued safety and reliability of Boeing's aircraft.
Boeing Faces Battle as 737 Max Concerns Halt 2024 Guidance
Boeing ( NYSE:BA ), one of the world's leading aircraft manufacturers, has navigated a turbulent fourth quarter marked by a narrower-than-expected loss and a subsequent surge in stock value. However, the company now faces fresh challenges as it suspends forward guidance for 2024 amid safety concerns following a mid-flight incident involving a Boeing 737 Max 9 aircraft. In the aftermath, Boeing's CEO, Dave Calhoun, emphasizes a renewed commitment to quality control and customer support.
Mixed Fortunes in Q4 2023
Boeing ( NYSE:BA ) reported a smaller loss than anticipated for the fourth quarter of 2023. Despite the challenging aviation landscape, the company's revenue of $22.02 billion exceeded analyst expectations. The net loss of $30 million represents a marked improvement compared to the $663 million loss reported for the same period in the previous year. Earnings per share also demonstrated progress, narrowing from a loss of $1.75 to 47 cents per share.
Suspension of Forward Guidance
Despite the positive financial report, Boeing has decided to suspend its forward guidance for the year 2024. The decision comes on the heels of a mid-flight incident involving a Boeing 737 Max 9, raising safety concerns and prompting a cooperative investigation with the Federal Aviation Administration (FAA). The move indicates the seriousness of the situation and reflects Boeing's ( NYSE:BA ) commitment to addressing potential issues before providing investors with future projections.
Production Adjustments and Quality Control Focus
In light of ongoing safety concerns, Boeing ( NYSE:BA ) has announced production adjustments to its flagship 737 MAX and 787 Dreamliner models. The company plans to cap 737 MAX production at 38 planes per month until the FAA completes its quality checks. Simultaneously, Boeing ( NYSE:BA ) will maintain a production rate of five 787 Dreamliners per month, with an eventual increase to 10 per month.
Boeing's CEO, Dave Calhoun, emphasized a company-wide commitment to improving quality control. In a message to employees, Calhoun stated, "We will simply focus on every next airplane while doing everything possible to support our customers, follow the lead of our regulator, and ensure the highest standard of safety and quality in all that we do."
Stock Market Response
Boeing's ( NYSE:BA ) stock witnessed a brief surge, rising over 3% in early trading following the Q4 earnings report. However, the stock has experienced a notable downturn, losing more than 17% of its value over the past month. The market's response indicates investor caution as the company grapples with safety concerns and the suspension of forward guidance.
Conclusion
Boeing's ( NYSE:BA ) recent financial performance reflects a mixed picture of resilience amid adversity. While the fourth-quarter results show improvement, the suspension of 2024 guidance underscores the gravity of the safety concerns surrounding the 737 Max series. Boeing's commitment to quality control and cooperation with regulatory authorities will undoubtedly shape its path forward. As the aviation giant faces a challenging period, stakeholders eagerly await developments and the company's strategic responses to ensure a safe and prosperous future.
$BA $195 incoming? Seems to be repeating itself as do most stocks. Tried to simplify it as much as I could for those that can pick up what I'm putting down. Gaps seem to show strong resistance at the moment so I will wait for BA to make an attempt at the $210 gap above before entering 2/9 $210 and $200 puts for a confident swing to lows, take profit, and perhaps roll them after another test of the 20EMA. Thats the plan.
BA The Boeing Company Options Ahead of EarningsIf you haven`t bought the dip on BA before the previous earnings:
Then analyzing the options chain and the chart patterns of BA The Boeing Company prior to the earnings report this week,
I would consider purchasing the 202.5usd strike price Puts with
an expiration date of 2024-2-16,
for a premium of approximately $5.15.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
SPY SHORT ( UPDATE FROM JAN 24,2024 )**Hello all, Im here to add some insights to the trading view community. I run options and stock programs out of trading view which give intraday bull and bear probabilities and support and resistance levels based on options chain data
Looking at SPY, I see a Support level at 485 and the open interest difference between calls and puts are the highest there ( over 5000 ). Resistance at 487 and 488. Im looking to enter a short now with 490 SL.
Target is sub 480 if bears push it over
Based on my program which does seasonal analysis, SPY is bearish for the next 10 days. Feb month is where the big bear comes seasonally.
Ai forecast also looks bearish. Not a place to go long. We Trade algo is applied on the chart**
We posted the above idea initially on the 24th of january when SPY was close to 489 but the idea got hidden. The short/ put trade we entered at 488 level paid 80% and closed at 485 level.
Watching for another short opportunity. Out of all longs for now
Is Boeing a buy before earnings? LONGThis is a daily Boeing chart with the idea on the chart in the text. There may be a good entry
before earnings using a stop loss under the POC line and an ultimate target of the projected
trendline resistance at $280-$300 if all goes well fundamentally with an FAA investigation
and its sequelae. A megaphone pattern demonstrates increasing volatility in price action which
is something some traders take to the bank. My analysis is that this may be a safe swing trade
until the report of the 24Q2 earnings in about 100 days.
Akasa Air's Ambitious Boeing Order Positions India for GrowthIndia's emerging airline, Akasa Air, has placed a historic order for 150 Boeing 737 MAX planes, signaling a significant leap forward in the country's aviation sector. The CEO of Akasa Air, Vinay Dube, announced the purchase of 737 MAX 10 and 737 MAX 8-200 jets, emphasizing the company's commitment to becoming one of the top 30 leading airlines globally.
This move is a significant boost for Boeing ( NYSE:BA ), especially amid the recent global scrutiny surrounding its 737 MAX 9 jet after a panel incident on an Alaska Airlines flight. Akasa Air's strategic decision to exclude the MAX 9 from its order demonstrates a cautious approach, aligning with India's aviation regulator's recent affirmation of the satisfactory completion of checks on the 737 8 MAX aircraft.
The order is not only a testament to Akasa's confidence in Boeing ( NYSE:BA ) but also highlights India's emergence as a major player in the aviation market. Civil Aviation Minister Jyotiraditya Scindia praised the landmark order, celebrating Akasa Air as the first Indian airline to achieve a firm order book of over 200 aircraft within just 17 months of operations.
India, now the third-largest buyer of planes globally, is experiencing remarkable growth in its civil aviation sector. Speaking at the "Wings India" aviation conference, Minister Scindia expressed optimism about India's aviation trajectory, emphasizing its role as a key driver of economic development, social progress, tourism, trade, and job creation.
Prime Minister Narendra Modi's ambitious goal of constructing 80 airports by 2025 aligns with the surging demand for air travel in the country. With the aviation market becoming fiercely competitive, global aerospace giants are actively pursuing opportunities in India, given its status as the world's fifth-largest economy and one of the fastest-growing air travel markets.
Akasa Air, translating to "sky" in Sanskrit, is positioning itself as an ultra-low-cost carrier, aiming to offer tickets at prices lower than its competitors. This unique market approach, coupled with its substantial Boeing order, reflects the airline's determination to capture a significant share of India's burgeoning middle-class travel market.
As India continues its upward trajectory in the aviation industry, the government's commitment to infrastructure development and the increasing demand for air travel are propelling the nation into a prominent position on the global aviation stage. Akasa Air's ambitious Boeing ( NYSE:BA ) order exemplifies India's resilience and potential for exponential growth in the civil aviation sector.
$BA Boeing Gap Fill 50% RetracementNYSE:BA Boeing Gap Fill 50% Retracement on the weekly chart. In technical analysis, the term "Boeing Gap Fill" refers to a situation where the price of Boeing's stock retraces or fills a gap that occurred in the past on its weekly chart. Specifically, the focus here is on a 50% retracement.
A gap occurs when the price of an asset moves sharply up or down, creating a noticeable empty space or gap on the chart. In this context, the analysis is centered on Boeing's stock, and the goal is to observe how the price retraces approximately 50% of the previous gap movement on the weekly chart.
Traders and analysts often use retracement levels, such as 50%, as potential points of interest for market reversals or continuation of trends. The interpretation of a 50% retracement would suggest that half of the initial gap has been filled, and traders may assess this level for potential support or resistance.
Please note that specific technical analysis tools and indicators can be used to further analyze and confirm potential trading decisions based on the observed Boeing Gap Fill and 50% retracement on the weekly chart.
$BA Fibonacci Re-tracement SupportThe phrase " NYSE:BA Fibonacci re-tracement support" suggests that technical analysis using Fibonacci retracement levels is being applied to Boeing's stock ( NYSE:BA ). Fibonacci retracement is a tool used by traders and analysts to identify potential levels of support or resistance in a financial instrument's price movement.
In this context:
- " NYSE:BA " represents Boeing's stock ticker symbol.
- "Fibonacci retracement" refers to a method of technical analysis that involves plotting horizontal lines on a chart to identify potential levels where the price may experience support or resistance based on key Fibonacci levels (e.g., 38.2%, 50%, 61.8%).
Therefore, " NYSE:BA Fibonacci retracement support" implies that analysts are looking at the Boeing stock chart and identifying specific Fibonacci retracement levels that might act as support for the stock's price. These levels could be considered potential buying points or areas where the stock might find stability after a price decline.
Keep in mind that technical analysis, including Fibonacci retracement, is just one tool among many used by traders and investors. It's important to consider various indicators and perform a comprehensive analysis before making any trading decisions.
Boeing's 737 Max Woes Deepen: A Gaping Hole Raises New Concern
Boeing, the aviation giant, is once again under intense scrutiny as its best-selling plane, the 737 Max, faces fresh safety concerns. The recent incident involving an Alaska Airlines jetliner, where a gaping hole appeared mid-flight, has prompted federal officials to issue a temporary grounding of some Boeing 737 Max planes. This emergency order by the Federal Aviation Administration (FAA) affects approximately 171 planes globally, dealing another blow to Boeing's beleaguered Max lineup.
The Incident:
On Friday, an Alaska Airlines Boeing 737 Max 9 experienced a terrifying mid-air incident, with a window panel blowing out just seven minutes after takeoff from Portland, Oregon. The sudden loss of cabin pressure resulted in oxygen masks dropping, and a child's clothes being pulled off due to the rapid decompression. Despite the harrowing ordeal, the pilots managed a safe emergency landing, and all 171 passengers and six crew members emerged unharmed.
Grounding and Inspections:
In response to the incident, the FAA mandated immediate inspections of Max 9 planes operated by U.S. airlines or flown in the United States by foreign carriers. Alaska Airlines swiftly grounded its entire fleet of 65 Max 9s for inspections and maintenance, causing disruptions to its schedule. United Airlines, which inspected 33 of its 79 Max 9s, reported around 60 canceled flights due to the grounding.
Potential Impact on Boeing:
The extent of the damage to Boeing's reputation and brand hinges on the outcome of investigations into the cause of the blowout. If the incident is linked to a manufacturing issue, Boeing may face increased pressure to revamp its processes, potentially slowing down the delivery of new planes.
This incident comes on the heels of the Max lineup's troubled history, with two deadly crashes in 2018 and 2019 leading to a global grounding for nearly two years. Boeing's rush to get the Max approved quickly and questions about safety procedures resulted in a $2.5 billion settlement with federal prosecutors in 2021.
Ongoing Challenges for Boeing:
Boeing has estimated that fallout from the previous crashes has cost the company over $20 billion. Despite settling with most families of crash victims, the Max has faced additional challenges, from delays due to supplier issues to concerns about the anti-ice system and loose bolts in the rudder-control system.
Conclusion:
Boeing finds itself at a critical juncture once again, grappling with renewed safety concerns surrounding its 737 Max planes. The company's response to the investigation findings and the corrective measures it implements will significantly impact its reputation and future sales. As aviation authorities delve into the incident, the broader aerospace industry watches closely, mindful of the potential ripple effects on Boeing's standing as a leader in commercial aviation.
BOEING: This breakout will be a Christmas gift to buyers.Boeing opened much higher today, turned overbought on the 1D timeframe (RSI = 70.408, MACD = 1.220, ADX = 33.303) and is about to hit the 1D MA200 for the first time in two months. Since the long term pattern is a Channel Up, dated back more than one year, a candle close over the 1D MA200, will be a bullish extension signal much like November 7th 2022. If it happens, it will be a pre-Christmas bargain, buy and target the R1 level (TP = 243.00).
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Boeing Company: The Underpressured PathBoeing results topped analyst expectations Wednesday thanks to a pickup in commercial aircraft deliveries as the manufacturer increases production, but losses in its defense and space businesses drove the manufacturer into the red for the quarter.
The company generated $2.6 billion of free cash flow in the second quarter, ahead of analyst forecasts, and reiterated its full-year guidance of between $3 billion and $5 billion of free cash flow.
Boeing shares surged 12.70% just in a week, and closed on Friday at $238.69, the stock’s highest closing price since November 2021.
Here’s how the company performed during the period ended June 30, compared with Refinitiv consensus estimates:
👉 Adjusted loss per share: 82 cents vs. 88 cents.
👉 Revenue: $19.75 billion vs. $18.45 billion
👉 Boeing and main rival Airbus have both struggled to increase aircraft production in the wake of the Covid pandemic as some airlines face longer waits for new jets, just as travel demand rebounds.
The company delivered 136 planes in the second quarter, up from 121 aircraft during the same period last year.
Meanwhile just a take a look what historically happened with Boeing stocks, almost every time after 10+ percent weekly advance. In simple words - that's been a flat, or even more than 10 percent decline.
Technical picture indicates that Bearish trend still is in power in NYSE:BA stocks, and 5yrs SMA is still a huge resistance.
BA The Boeing Company Options Ahead of EarningsIf you haven`t bought the dip on BA here:
Then analyzing the options chain and the chart patterns of BA The Boeing Company prior to the earnings report this week,
I would consider purchasing the 182.50usd strike price Calls with
an expiration date of 2023-11-3,
for a premium of approximately $5.05.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Boeing looks good to Buy NowAs it's shown on the chart for me NYSE:BA looks bullish right now
I have opened some position in NYSE:BA because it is on 200 MA support on daily frame time
Entry price: 209.20
Stop Loss: Daily close lower than 204$
Target 1: 216 $
Target 2: 240$
What do you think? Share your opinion in comments
Thank you
BA VWAP bounce LONGBA on the 1H chart put in a double top. Given the heavy volumes on the volume
profile, BA was shorted heavily at the top. Those shorts have rode the profit train
down to the mean VWAP. At this point they are buying to cover and taking profit
and are joined by new buyers. BA has reversed and pivoted up. the MACD is
confirmatory. Volume is adaquate and steady albeit without any spikes.
BA is a low mover. Price has about 5% upside to the double top and POC line of
the volume profile. This is most suitable for a call option trade to follow this
megacap up. Please leave a comment if you would like to query my ideas as to
a good option for this trade.