Trade #2: Long BA - 26 Aug 2014Sentiment: Volatile range
Buying more into demand with good risk reward ratio trade.
Update: Market open lower @ stop out p/l -0.99%
BA
BA likes to Swim for Recreation but curretly needs Air.Ignore the MA Death Crossover that BA underwent just recently. BA at this very appealing support level should become a necessity to buy up for any fund holding it. There has been some noticeable bullish momentum divergence to boot and a look to the 4hr chart indicates that we should see a little pop in the coming days to keep us out of danger. Look for a retest of 130. This should provide a nice 1:2 R/R opportunity for most.
Also, wish I could edit title to correctly spell 'currently'..
8/22/14: due to the hanging man yesterday and the solid run up thus far: I'd raise any stops to under yesterday's low.
BA Is Coming In For A Landing, Watch This Level...Leading aerospace manufacturer The Boeing Company is trading lower again this morning. The stock has come under major distribution in 2014 after peaking out in January at $144.57 a share. Today, the Boeing is trading lower by $2.13 to $124.58 a share. Many traders and investors are now hearing that business is slowing down for The Boeing Company. Earlier today, the stock was downgraded by BofA/Merrill Neutral from Buy citing potential cancellations in orders and shrinking military programs. Traders and investors must now look to the charts to find important support levels where the stock could stage a bounce and create a trading opportunity. At this time, The Boeing Company stock should have important support around the $117.75 level in the near term. This was a level where the stock broke out in October 2013. Often, prior break-out levels will serve as important support when retested.
Nick Santiago
Chief Market Strategist
www.InTheMoneyStocks.com
$BA Bearish BatBearish Bat Harmonic on the BOEING Daily chart? It's not perfect. but could be happening
