Smooth sailing for now!BA has managed to gain back some bullish momentum and is tracking its way up.
It is making small and sustainable increases in price which I like to see. Slow and steady wins the race!
Its going to be pretty much smooth sailing IMO for the next week. The problem will come when we approach the descending resistance channel around 222/225.
My outlook has changed from negative to neutral on linear regression modeling. Still a potential turn to the downside; however, in the past year BA has rejected any lows below 190. It's minimum low has been 190, and every time it has fallen below, you see hard rejection to the upside. So this is promising.
Intra-day targets for today Feb 8th:
Open: around 212-212.96
High: looking to 215.43 and up for today.
Low: 208.17 (good entry point if you are not already in a position with BA, or a good entry point for a day trade to the upside)
Keep in mind, because BA has been an erratic stock, the standard error of my predictions is a bit higher than I would like at 4.242, vs my STDerror of Less than 1.2 for SPY and QQQ.
Happy trading!
