Boeing testing the big 173 level again today

Aug 12, 2020

Boeing retesting a major level. I am long and added today. Stop under 170

Here is my last Boeing analysis. You could see the updates if you scroll down.

Aug 13, 2020

Note

Tagged 173 at the open before ripping upward. Lows need to hold and a break above 179 is needed, ideally today.

Aug 13, 2020

Note

173 held today but we did not see a break above 179 like I was looking for. Boeing may be entering a consolidation phase that will expose tight stops. As a longer time frame trade it remains a hold. For short term traders I think we could expect more challenging volatility. There will be easier trades elsewhere until 179 is broken.

Aug 14, 2020

Note

Happy to see the stop wasn't hit today - 173 held again. Good action as it moves back toward 179

Aug 17, 2020

Note

I think we see a break above 179 today as we tighten up in this potential consolidation zone:

Aug 18, 2020

Trade closed: stop reached

I got stopped today. Price action doesn't say much as it still does not negate a hold, but it's an opportunity cost for other trades.