Price has broken through the 38.2 fib level but has retraced back up on the 4hr chart. On the monthly chart however price has reached the 161.8 level and will most likely go down to the 61.8 level on the 4hr.
Thanks for the analysis, but I disagree. BA has bottomed out. All bad news already priced in. 2.5B fine, lost 12B in 2020, etc. 737 decertified, new orders coming in, vaccines are accelerating, COVID cases are back to October low numbers, more stimulus, dovish monetary policy. Any dip like the end of January in the market was short lived and bought right back up fast. BA bounced off the $192 lows at the end of January when the bulls came buying. So I see BA flying high to $275-300 later this year, especially when China puts in new orders. Good luck though!
wes999
⋅
@ktaba, Thanks for that perspective. I'm mainly a technical trader so it's great to hear other perspectives. I see a pullback only in the short term. I wish you luck as well.