rickhubbard10

BA Breakout Price Targets with potential breakdown levels

NYSE:BA   Boeing Company (The)
If Boeing can stay away from bad news and regain the ascending channel, it should continue to test the top-side of the above channel as resistance.

My thoughts are that potential breakdowns may occur after a failure to test the top-side resistance of the ascending channel. Or after its 3rd test of the top-side resistance of the channel.

With good news and Japan continuing to buy equities rather than debt, I don't see it being out of the question for BA to break that top-side trendline resistance and reach the previous all-time-high trend demand zone into the mid $290s
Comment:
BA fighting between a somewhat meshed together supply and demand zone. Look for a break and retest out of either side of the top or bottom range. After a confirmed support above, I will look to enter long for day trade, or after confirmed resistance on a break below, will look to enter a short day trade.
Trade active:
Will look to be out of this trade by Wednesday.

Delta on 12 March 21 was decent so when a little further out of the money than my goal of $235 with a $240 Call with a cost basis of $1.43
Trade closed: stop reached: Sold call for loss at $1.23
Trade closed: target reached: Bought a $232.50 call this morning for $1.50 while the thetas were getting chomped on. Sold at topside resistance for $3.75

Had a little hunch when I saw how the thetas were moving while it was being pinned under $224. The decay was increasing much more than the price action showed was necessary. I didn't really expect to play this one again before it held support above $232, but thought I could get a good deal while the decay was being driven up while price action was holding.
Comment: Wasn't confident in an entry this morning with that close under $232 so I didn't place and entry this morning. I'm going to be patient on this move. Expecting $240 resistance. Holding that $238-$240 range as firm support would give a nice entry to move up into that above yellow path price action.

This has made some very nice impulse/corrections so far, as of now BA indicating a very strong push to challenge that descending resistance of the all-time-highs
Comment: Update on breakout - critical levels in trend
Comment: Sorry... Above image should read $269 rather than $169 for PT
Trade active: Initial price target reached

**Never financial advice

if:
-you like my ideas, like and follow to be updated when I post.
-you’d like my opinions on tickers, message me.
-you’d like to support my efforts it would be greatly appreciated, support here: https://cash.app/$Rhutch742