4BA trade ideas
BA to go lowerBA has had a slew of issues since two Boeing MAX commercial jets crashed in '18 and '19. From delayed deliveries to missing sales opportunities, Boeing stock still has more selling ahead. The 3.618 fib retracement sits rights at the gap at 158, but if the stock breaks down to those levels, I foresee the support being at the 4.236 level at 140-142.
Not financial advice
First red close in 5 days. More to come?BA looks like it may have lost its momentum. It is down 6% from where it was a year ago and tested the important level of $200 in the morning. The stop is the previous high of 205 if it moves to the 212 level by chance. A conservative TP is 193 with the 180's the next significant level.
Not much left for BA before it goes up in flamesLittle boys it's fundamental setup is sealed, not that one needs the fundamentals to know that. Thousands of flights cancelled in the last 2 days alone. The virus they are clueless about is being the headline to blame. The chart says it all. Boeing is about to nosedive in 2022 faster than your little mickey mouse can scream. Enjoy the couple bucks left before the nose dive. You don't want to be on a Boeing plane anyway, they have a habit of crashing and going up in flames.
Huge drop coming For those that need a reason. They need news. Hundreds of flights being cancelled a day. Boeing has a far fall to take. Investors be patient. Day traders. Well good kick making Chunp change. Investors who control the market be patient. Boeing will be in the clearance aisle in the coming months.
BA headed to 170 in the next couple of weeks Been a slow short since dropping below 200 but that's because of the oversold conditions on the weekly. closed beneath 193 fibonacci level that's been holding it up that last month. In the next couple weeks I expect new travel restrictions on Europe because the increasing cases over there and pending lockdowns. I think we will be headed to 170 within a month.
$BA - Double bottom?Boeing looking like double bottomed! If the price can reverse and break above $212 will be bullish and considered double bottom is confirmed.
Target 1 - $212
Target 2 - $235
Risk - price fall below $188 or failed to break above $212.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.