vonLuftwaffle
Long

[Boeing CO] A Risky Long Set Up

NYSE:BA   BOEING COMPANY (THE)
47 0 1
This is tricky because we're near yearly high
and the price has indeed soared quite rapidly
in the past few weeks.

In fact, in-house estimate of momentum shows
weakening of momentum in the short run so there's
definitely a possibility that we make a lower high
from here.

But until then, price seems quite bullish and we have
recovered from 20ema support on 4 hr             time frame.

Stop loss for this trade is set roughly at 144.5.

First target is $150 - that's already a 2 R:R!

I personally think we will break $150 by the end of December.

Good luck.

Edit: If you're going to go long I advise you to do so on Monday open assuming price doesn't gap up.
Comment:
snapshot


Keep in mind that the red arrow scenario can play out as well. Monitor daily timeframe carefully and see if there's a bounce at the 20ema (daily tf).
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