BOEING ($BA) | Is Everything With Wings Taking Off? ✈️
👨🏽✈️ Boeing and airline stocks have performed very well recently, in-fact many of the stocks beaten down by COVID are on the move. Of all of these stocks, Boeing has one of the best looking charts around. Add to that that production is ramping up along with demand, and we have a great justification for a long position along with the newly formed bullish uptrend.
Resources: www.thestreet.com/in...oint-bond-investment + q13fox.com/2020/05/2...on-layoff-thousands/
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1. Fractal Trend is showing a freshly formed uptrend (Aqua colored bars) on the 1-hour timeframe.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The play here is to buy a potential pullback to the S2 orderblock and S/R flip, as we suspect it will act as support due to the significant recent reactions to this range.
4. Our stop is placed below S2 and our target is a retest of the current R1 orderblock where we expect to find resistance. This gives us a solid 5.31 R:R.
Although Boeing may just keep going, we don't think it is heading for more downside unless the broader market sees a significant change. Given that, the logical play for us is to buy support. Of all potential supports which retain the bullish structure, S2 is the most logical, and given that the rest of the setup falls into place.
Good luck frequent flyers!
Resources: www.thestreet.com/in...oint-bond-investment + q13fox.com/2020/05/2...on-layoff-thousands/
✨Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
1. Fractal Trend is showing a freshly formed uptrend (Aqua colored bars) on the 1-hour timeframe.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The play here is to buy a potential pullback to the S2 orderblock and S/R flip, as we suspect it will act as support due to the significant recent reactions to this range.
4. Our stop is placed below S2 and our target is a retest of the current R1 orderblock where we expect to find resistance. This gives us a solid 5.31 R:R.
Although Boeing may just keep going, we don't think it is heading for more downside unless the broader market sees a significant change. Given that, the logical play for us is to buy support. Of all potential supports which retain the bullish structure, S2 is the most logical, and given that the rest of the setup falls into place.
Good luck frequent flyers!
