I have been sort of ignoring BA for a while. But in looking through charts this evening and seeing if anything would be worth swinging this upcoming week, BA sure topped the charts.
So let me get into what I am seeing and what I will potentially be swinging this upcoming week.
BA has established a fairly strong uptrend on the hourly and daily.
Plotting this uptrend out mathmatically gives us the following price targets for next week:
197 (when plotted on the hourly)
196 (when plotted on the daily)
Probability model on BA gives 196 TP for next week.
The third monthly bull target is just over 197.
A lot of 196s/197s showing up here.
Technicals:
BA has been increasingly seeing higher highs and has been conssitently jumping off its DSL 75 line:
You can also see on the Buyer to Seller Volume indicator, that buyers are very much still in control and, so far, maintaining on and/or above the volume SMA (yellow line).
Plan:
To probably swing this long if the conditions are met.
Conditions:
If this uptrend is going to be respected, we should see the following:
- Buyers maintain above sellers on the hourly chart on Tuesday
- BA should make a move to 191/192 on Tuesday
- BA must not break out or below the channel or below the 75 DSL line on the hourly on Tuesday
If those conditions are met, then I will feel better about swinging this.
Otherwise, I will be eyeing it as a day trade for a potential move to 192.
My thoughts!
Safe trades everyone!
And if you are sitting out this week, have great holidays!
So let me get into what I am seeing and what I will potentially be swinging this upcoming week.
BA has established a fairly strong uptrend on the hourly and daily.
Plotting this uptrend out mathmatically gives us the following price targets for next week:
197 (when plotted on the hourly)
196 (when plotted on the daily)
Probability model on BA gives 196 TP for next week.
The third monthly bull target is just over 197.
A lot of 196s/197s showing up here.
Technicals:
BA has been increasingly seeing higher highs and has been conssitently jumping off its DSL 75 line:
You can also see on the Buyer to Seller Volume indicator, that buyers are very much still in control and, so far, maintaining on and/or above the volume SMA (yellow line).
Plan:
To probably swing this long if the conditions are met.
Conditions:
If this uptrend is going to be respected, we should see the following:
- Buyers maintain above sellers on the hourly chart on Tuesday
- BA should make a move to 191/192 on Tuesday
- BA must not break out or below the channel or below the 75 DSL line on the hourly on Tuesday
If those conditions are met, then I will feel better about swinging this.
Otherwise, I will be eyeing it as a day trade for a potential move to 192.
My thoughts!
Safe trades everyone!
And if you are sitting out this week, have great holidays!
Trade closed manually:
Closed out of the remaining 2 today.
The market is too heavy and too low volume to expect any movement.
Overall I am bearish on everything leading into January.
Safe trades everyone!
The market is too heavy and too low volume to expect any movement.
Overall I am bearish on everything leading into January.
Safe trades everyone!
Premium indicators and content have launched! Get access at: www.patreon.com/steversteves
Hit 192.
Got in this AM with 10 option contracts.
Took 8 off and will hold the remaining 2 with a tight SL to maintain profit for the week. Hopefully we hold =).
Safe trades everyone!