BA has had an absolute incredible run and as its share price has risen, it's increased its weighting in the Dow Jones Industrial Average, peaking near 11.5% of the Dow. But BA is looking to take a breather over the coming months, as it forms a consolidation pattern to ultimately push higher.
I'm expecting the gap at $385 area to act as temporary support, wherein BA will consolidate above the Gap and then ultimately around the June/July time frame fill its gap, with further consolidation, forming a base to push higher toward the end of this year or early next year.
Boeing longs should protect profits here, potential shorts at these elevated levels should exercise caution as the move has already begun, and try to time entries on pullbacks with advantageous prices.
Trade closed: target reached
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I've exited my BA short as we've now reached the gap support. Will wait for a reaction wave before entering for the gap break.
Second Boeing 737-800 MAX has crashed shortly after take off in Ethiopia.
Ethiopia Airlines has grounded all 737-800 MAX Fleet
China has now grounded all 737-800 MAX planes.
Boeing has postponed the 777X Debut in Seattle indefinitely.
aikiman
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It's not possible to draw any definitive conclusions concerning liability. As tragic as these two accidents are...this could all boil down to operator error. It's known that Boeing changed the AoA (Angle of Attack) sensor & software on the 737 Max...and an FAA advisory (also given to foreign operators) was issued warning airlines about this particular sensor. Question is, did the company advise Lion Air about the change before the FAA warning was issued? Ethiopian Air had the information...
The_Unwind
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Excellent analysis here.Tons of detailed info included in your presentaion
Also, a Very cool chart ! I've never seen anything like it before...
How did you make up that kind of solar system/fib chart ?
Is that a charting feature available on Tradingview ?
Really enjoy reading thru your work. Keep it up .Thank you.
vergun
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@The_Unwind, Thanks! That's an overlay of Fibonacci time series, retracement, and circles tools.