$BA The Long Awaited Long.. BA is currently testing the top of a monthly demand zone. There is a lower zone with daily and weekly gaps below. Both of these zones are centered around the Market Maker Discount Fib zone. Building a Long Position anywhere from here down will be the most epic long awaited long you can ask for. Profit target zone is highlighted up top.
BA
Boeing Ready to Fly Again?Boeing looks interesting--at least in the sense that's it's checking all my boxes for the kinds of trades I look for. Bullish Divergence, check. Buy Zone, check. Price on top of a Supply Zone, check. Normally this would be an easy one to start averaging in. However, as with most stocks there's more to consider than just TA and the overall market is still shaking out. I think this is a great chance for a short-term play, but I'm not ready to go in with full confidence yet.
Happy Trading,
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Boeing (NYSE: $BA) Beaten Down, But Not Broken! ✈️The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The Commercial Airplanes segment provides commercial jet aircraft for passenger and cargo requirements, as well as fleet support services. The Defense, Space & Security segment engages in the research, development, production, and modification of manned and unmanned military aircraft and weapons systems; strategic defense and intelligence systems, which include strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance, cyber and information solutions, and intelligence systems; and satellite systems, such as government and commercial satellites, and space exploration. The Global Services segment offers products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and data analytics and digital services to commercial and defense customers. The Boeing Capital segment offers financing services and manages financing exposure for a portfolio of equipment under operating leases, sales-type/finance leases, notes and other receivables, assets held for sale or re-lease, and investments. The company was incorporated in 1916 and is based in Chicago, Illinois.
BA is on my watchlist. Here is why. Boeing is one of the biggest airplane manufacturers in the world. Alongside producing other technologies regarding the aerospace industry.
* Since 2019, Boeing has been going through tough periods and a clear bearish trend that reached an 80% decline in march 2020.
* Since there the price has been moving up, and after the breakout of the descending trendline, we have been observing a consolidation movement (yellow lines)
* These types of consolidations in the weekly chart tend to be amazing opportunities to wait for the breakout and look for trading opportunities after that.
Let's take a look at the weekly logarithmic chart:
As you can see, this is not the first time Boeing has been on a huge bearish trend. That's why studying all these previous situations may bring great insight into what we are waiting for before trading.
At the moment, my plan is: Wait for the breakout and look for a correction + study what past corrections look like in the previous scenarios. I will expand this idea after further study.
Remember: DEFINE everything in advance and wait for the price to fulfill your filter or cancel your setup. That's a powerful edge.
Feel free to share your view or chart in the comments!
Boeing Should Remain Heavy For More DownsideIn Boeing, the broader view suggests that it’s correcting the cycle from March 2020 low cycle. While the decline since March 2021 high is unfolding as Elliott wave double three structure with the combination of 3-3-3 swings lower. Favoring more downside towards $167.46- $121.90 target area before it can find support for a 3 wave bounce at least. However, looking at the shorter cycles the decline from the 10 February 2022 peak is unfolding as an impulse sequence as part of a wave 3 within (C) leg lower and should remain heavy on to the bounces for more downside.
Whereas the initial decline to $207.10 low has ended wave ((i)). Up from there, a 3 wave bounce to $219.67 high ended wave ((ii)). Then a decline in wave ((iii)) unfolded in another lesser degree 5 wave structure where small wave (i) ended at $212.67 low. Wave (ii) ended at $215.88 high, wave (iii) ended at $197.82 low, wave (iv) ended at $203.25 high, and wave (v) ended at $186.88 low. Above from there, Boeing is doing a 3 wave bounce in wave ((iv)), which is expected to unfold as a lesser degree zigzag structure, which can reach as high as $199.41- $203.28 area before resuming lower once again.
Technical analysis update: JETS (8th February 2022)The airlines sector has been strongly impacted during the Covid 19 crisis which resulted in slump of most aviation related stocks. Over the past two years, this sector has been lagging behind the rest of the economy as a result of persisting lockdowns, travel restrictions and other health related mandates. Although, some countries such as Italy, Great Britain, Denmark, Norway and Switzerland are already seeing restrictions on social life being eased. We expect this phenomenon to continue globally and strengthen over time as the Omicron variant poses lower health risk when compared to previous strains of the virus. We view this as a very positive development for the airline sector and as one that will bring air travel back to life over time. Additionally, we think this will act as a catalyst which will result in a revival of the bullish trend. At the moment, the JETS ETF remains approximately 36% below its all time high value which is attractive pricing in our opinion. Further, we are becoming increasingly bullish on the JETS ETF; because of that we would like to set a short-term price target to 23 USD and medium-term price target to 25 USD. Additionally, we would like to set a long-term price target to 30 USD.
Illustration 1.01
Illustration above shows the weekly chart of combined market cap of AAL+DAL+LUV+BA. It is 45% below its all time high value from February 2019.
Illustration 1.02
Illustration above shows the weekly chart of combined market cap of LHA+AF+RYAAY. It is approximately 17% below its all time high value from November 2017.
Technical analysis - daily time frame
RSI is bullish. MACD is due to perform a bullish crossover which strongly bolsters the bullish case for JETS. Stochastic is bullish too. DM+ and DM- show bullish conditions in the market. However, ADX contains low value which suggests that the prevailing trend is either neutral or very weak.
Illustration 1.03
Picture above shows the daily chart of JETS. It also shows the downward moving channel where upper bound acts as resistance and lower bound as support. We expect an eventual breakout above the resistance. Breakout setup for this trade would involve entry above the resistance and stop-loss below it.
Technical analysis - weekly time frame
RSI is bullish. MACD remains in the bearish area; though, it is flat and trying to turn to the upside. Stochastic is neutral. DM+ and DM- are bearish with ADX showing presence of weak or neutral trend.
Support and resistance
Resistance 1 lies at 22.94 USD and Resistance 2 at 25.20 USD. Resistance 3 sits at 28.98 USD. Support 1 can be found at 19.28 USD.
Please feel free to express your own ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Boeing Crashing. BAImmediate targets 201, 193, 183. Invalidation 257.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
$MSFT $BA $BABA $BTCUSD I OptionsSwing WatchlistMSFT 1D I We have a possible head and shoulder pattern in formation on the daily chart for MSFT. The neckline is near $280, a break below can take us to $260.
BA 1D I Just as we expected we saw BA retrace to our $205-$210 support level. Overall, it is showing strength relative to the market, indicating the bull flag might break.
BABA 4H I Currently down more than 60% from ATH. We have a possible ascending triangle on BABA leading into earnings. BABA reports earnings on 02/24 pre-market.
BTCUSD 1D I Just as we mentioned last week we were expectinga pullback on BTC to near $38K. Now we want to see it hold above this level and make a higher low.
$SPY $BA $DKNG $BTCUSD I OptionsSwing WatchlistSPY 2H I We had a double top on SPY last week and a breakdown from an uptrend. Watching for a break below Friday's low and a full given market weakness.
BA 1D I We have a massive bull flag on the BA daily and hourly chart, which has been playing out since March of 2021. Watching for a lower high between $205-$210.
DKNG 2H I We have an ascending triangle on DKNG on the 2 hour time frame. DKNG is due to report earnings this week. Watch on a break from our trading pattern.
BTCUSD 1D I Bitcoin broke out from a massive downtrend at the end of January. As of now it failed to break through/hold $45K. Watching for a lower high near $38K
BA - Remains Bearish I don't want to hear your news stories about Boeing as if any of that even matters. Technicals just aren't bullish yet. The fact is, 4 weeks ago Boeing flashed the weekly sell signal and this week Boeing back tested that signal and failed leaving a 50% wick down candle at the top of the downtrend channel.
I am looking for a 5 wave down structure here to fill the gap below into weekly demand.
Boeing in a Range? The Boeing Company - Short Term - We look to Sell at 229.71 (stop at 242.04)
We look to sell rallies. Previous resistance located at 230.00. Previous support located at 190.00. Trading within a Bearish Channel formation. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 230.00, resulting in improved risk/reward.
Our profit targets will be 190.83 and 176.80
Resistance: 230.00 / 240.00 / 260.00
Support: 200.00 / 190.00 / 175.00
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Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
Next week Earning - what are your plays for the coming week?Any ideas, suggestions, or recommendations?
$TSLA $AAPL $MSFT $BA $INTC $JNJ $HAL $T $GE $VZ $IBM $AXP $LMT $FCX $MMM $HOOD $V $MA $NUE $ABT $PHG $CVX $MCD $NEE $STLD $VLO $CAT $RTX $BOH $X $BMRC $LRCX $CBU $SIFY $LEVI $LOGI $UMC $ADM $BX $ERIC $NOW $JBLU $LC $STX $NDAQ
$UPS $BA $DIS $BABA I OptionsSwing WatchlistUPS 4H I UPS possible ascending triangle. Seems to be testing the bottom of the pattern we can attempt to catch the bottom on this name with a tight stock below $206.
BA 1H I The breakout we wanted above $219 happened last week. BA can hit $230 resistance this week before pulling back as earnings approach on 01/26.
DIS 2H I Strong bounce on DIS at the bottom of our channel. We've picked up unusual activity betting it could fill the gap to $155. Watching a break above 01/14's high.
BABA 1D I Jumped to a high of $138.70 last week. Retraced as the markets pulled back and it is now holding support above $130. Possible breakout on the 15M time frame.