Boeing Company pushed back from support. Up!Ticker: BA
Idea: Long
Horizon: 1-2 months
Target: $170
Potential of the idea: 28.59%
Entry volume: 5%
Stop order: $109
Technical analysis
The testing of the support level of $120 was successful, and the price is consolidating above this level. With the volume of the position at 5% and stop order placement at $109, the risk on the portfolio will be 0.88%. The profit/risk ratio is 1.63.
Fundamental factor
The Boeing Company is the world's leading aerospace corporation and the largest manufacturer of passenger planes. The company's report, which will be published on October 26, may pleasantly surprise the market. If forecasts are confirmed, Boeing may show profit in III quarter, which will lead to growth of quotations.