BA bouncing on trendline support. Trend started with March lows. I can’t make this up. BA ready for 225 then 240. Look at my last posts for the bigger picture. Breaking under trendline and confirmation of said break would invalidate this trade plan.
This is not financial advice. Do not take any thing i say as any form of financial advice. This is for entertainment purposes only. It is a personal case study I am sharing for entertainment. This is not financial advice.
*It has been nearly two months since I exited my BA position and took a significant loss. In retrospect, my first mistake was using a descending triangle pattern when I should have used a symmetrical triangle pattern - ultimately, the pattern busted down and the stock has yet to recover, my second mistake was not to exit earlier in the month when the 50 crossed the 200 on 7/14, and my third mistake was that I should have exited on 8/3 when the rocket returned to the hanger because of valve problems (you might remember, it was the same time Virgin, Blue Orgin, and SpaceX were flying). A lot has happened with BA since I sold my position on 9/16. Tough trade (technically), even tougher investment (fundamentally, I should have done more). Good luck to BA and the longs.
@Urmomma, Is that good for you? If so, great. Perhaps had a bit to do with the movement from China regulators. Hang in there... ;)
nyc_chris
⋅
no doubt. :)
nyc_chris
⋅
For a loss, I sold my position today (accumulated since 3/31); I made many mistakes, but I also learned a few things along the way. Best of luck to the Longs. :) ktaba urmomma
nyc_chris
⋅
Good points. I appreciate the reply. I was missing the first touch back on 3/19, second on 10/20 and now, 9/7, so there is three. Fair enough. Using a daily, charting a descending triangle, Bulkowski discusses busts and that is why I commented on an unfilled symmetrical and instead why I am keeping the descending triangle even with busts (with an exit at a conservative $315) simply because, as opposed to an unfilled symmetrical triangle, the descending triangle is filled correctly (five touches, etc.). I may be wrong/overthinking technically but that is my logic and the reason for this nice back and forth. Sure, fundamentally, there are plenty of reasons to keep long, not to mention the duopoly, the post pandemic reopening as Tom Lee says, even Larry Williams speaks quite highly of the September doldrums and then the October rally. However, the fact that Boeing has not returned to pre-pandemic highs, regardless of the back log of unfilled orders, and other regulated and unregulated miscellaneous pieces of this puzzle, there one over-arching reason to reconsider taking the loss sooner than later and that is because the impending fourth quarter taper will see fund flows change and the market will react appropriately and thereby extending the time it will take to deliver this stock the 2018 or 2019 lows (ceiling). I am currently bullish but the opportunity cost of waiting too long (in my case) might be a mistake if the market turns down significantly in the near term. There is always more to say, I appreciate the discussion…
Urmomma
⋅
@nyc_chris gotcha. In my opinion it’s back and forth because COVID fears grew with the delta variant and places closing again but (personally) I believe the outlook for COVID is somewhat certain considering we have vaccines being developed. Of course there will be variants but that’s with every virus