Boeing
BA Long into 2023+Setup for great long-term hold. Likely to retest ATH by 2023+, with possible future reinstatement of dividend as well.
Key things to note are 02/25/2019 All-Time High of ~440.
Typical Cup and Handle formation with Bottoming of Wave 1 ~120 on 05/11/2020; Wave 2 ~144 on 10/26/2020; Wave 3 194 on 01/25/2021.
Strong Resistance at ~242 evidenced on 06/08/2020 and 12/07/2020.
Strong Psychological resistance at 250 very likely (CNBC propaganda)
*These are CONSERVATIVE estimates*
Good luck!
Feedback kindly appreciated.
As always, do your own research :)
BOEING (BA) | Short-term pessimist, long-term optimist (Part 2)After selling all my shares last month, I'm back again to this crap for the same damn reason:
Possible bearish bat and gartley pattern - Looking for Point-D
+ Bullish flag pattern
+ Symmetrical triangle
+ 1W 20MA Support
+ Short-term pessimist, long-term optimist. Aviation industry will definitely recover after covid19
+ Good Risk/Reward entry for long position
- Boeing 737 Max scandal, Covid19, Earnings report, starliner fails
+ Plan your trade per your risk tolerance
Here's my previous chart:
Boeing (BA) Boeing has tested this weekly resistance zone twice. I'm looking for it to retrace back to this area for a nice entry. The support looks pretty solid underneath so i'm not terribly worried about that.
I'd be looking for a break of that resistance on the next run. There is very little resistance from that level to 310.
BA AlertLooking back historically on BA's chart we can see a favored pattern the stock likes to move in. We have seen since the beginning of last year 2 large bullish flag formations. We now have been trending in a much tighter and shorter flag since the middle of November. Only recently have we broke out of that flag and are now testing out our 200MA - 1Hr .
Keep eyes on Boeing - a lot of room for a promising recoveryIt took some time for Boeing to break out of its bullish wedge, but the support held well, and we see some more stubborn attempts from buyers to push the price up.
RSI is rising above 50, MACD has crossed over and the histogram is moving slowly towards positive territory. Earnings are after 7 days. so keep that in mind. An impulse above $216 will confirm the continuation of the bullish trend. My long term target is $250.
BA Take profit mode off completed Bearish BAT patternBA is in take profit mode.. basically using the top of the move $213+ algos will retrace at minimum down to 61.8 fib.
Best entry short was $213 so manage trade carefully with stops.. You can use the 20sma on the Daily as a guide as price recently rejected perfectly showing short term sell bias..
There is some price imbalance below so there are alot of things to like here.
If you decide to short cover at 61.8 fib by rule. There could be further downside but that would be another setup.
Good luck!!!
BA over $300 by Feb?Looking at the pitchfork, measuring the length of the uptrend move from May 2020 to June 2020, we can expect BA to touch over 300$ by early Feb.
Medium term Strategy:
Take a small entry at current price, setting a stop loss close to $197.
If dip validates at $197, I would average down with a second entry.
Long term hold Strategy:
Take a small entry at current price.
If support invalidates, wait for BA to retrace to the bottom of the Green channel. BA ha traded in Green channel fairly consistent before 2018 and is a good long-term hold at this price. Aviation is not dead -- BA (and AIR) are both leading or acquiring tech to make aircrafts more eco-friendly. BA will be worth a great deal with any hybrid engine tech emerging in the aviation space in coming years.
Bullish flag for Boeing- time to lift off?Boeing's recovery is steady and the uptrend is not that aggressive as other stocks recovering since the first lockdown, but that's because of the specific industry that Boeing is in, hit hard by the COVID-19 pandemic.
We have a small correction inside the uptrend, but that may end soon, as we have formed a bullish flag. RSI has already provided a bullish signal. MACD's histogram starts to hint for a turnaround, yet no crossover.
Yesterday's attempt to breach the flag was unsuccessful, but Boeing is definitely a stock to watch.