BA has had a bumpy ride to say the least. I see a double bottom. You could count it as more bottoms from the candle tails by the bottom on the left, but to me those are not really bottoms, but was part of an uptrend. Everyone is different on the bottom rules (o: It does mean the bulls made a stand at this level. (blue stars)
Triangles are triangles, whether they are Symmetrical, Ascending, or Descending and price can break either way, up or down. All 3 types are neutral until a trendline is broken and a trend in the direction of the break has started.
I see three triangles. 2 symmetrical triangles are inside a large Descending triangle. It is a messy chart due to all of the commotion, but the dashed lines are triangles. Price is inside the smallest triangle right now which recently formed. It appears to share the top trendline with the other 2 triangles. The medium sized symmetrical triangle has already broken to the downside and seems to have recovered most of the ground lost during that fall. (orange arrow marks the break of the bottom trendline of this symmetrical triangle) The larger triangle appears to be a Descending Triangle, but the support of the larger, descending triangle saved price from possibly falling any further than that the bottom trendline (support) when it fell from the Symmetrical Triangle.
BA is approaching the resistance of the top trendline (which is the top trendline for both of the triangles that I see). The 50 daily simple moving average (SMA) is barely over price and appears to possibly be causing some resistance. Moving averages can also act as support and resistance levels. A candle wick did break through the 50 today. It is considered a bullish scenario to have price over the 50. The 200 (red) is sloping up, meaning long term everything looks good right now. It would be good if the 100 (yellow) could get on top of the 50 (o: If the 50 crosses up through 100, that would be bullish. Moving averages change just like any indicator, and just a week or so price was under the 200 and now it is a healthy distance above it.
A while back, negative volume was very low on BA. NV (negative volume) went from very low to very high when price hit the 2nd bottom and remains high. Negative volume can indicate smart money and I like to see it because I know they will come in if it approaches that level.
There are pocket pivots near the first bottom (green triangle below left bottom). Institutions buy within consolidation periods and during uptrends. This buying will leave behind a volume signature, and that volume signature is called a pocket pivot. The definition of a Pocket Pivot is the day’s volume must be larger than any of the down volume days in the prior 10 days.
I apologize if this is confusing )o: I will probably dream about triangles tonight. (o:
No recommendation
Triangles are triangles, whether they are Symmetrical, Ascending, or Descending and price can break either way, up or down. All 3 types are neutral until a trendline is broken and a trend in the direction of the break has started.
I see three triangles. 2 symmetrical triangles are inside a large Descending triangle. It is a messy chart due to all of the commotion, but the dashed lines are triangles. Price is inside the smallest triangle right now which recently formed. It appears to share the top trendline with the other 2 triangles. The medium sized symmetrical triangle has already broken to the downside and seems to have recovered most of the ground lost during that fall. (orange arrow marks the break of the bottom trendline of this symmetrical triangle) The larger triangle appears to be a Descending Triangle, but the support of the larger, descending triangle saved price from possibly falling any further than that the bottom trendline (support) when it fell from the Symmetrical Triangle.
BA is approaching the resistance of the top trendline (which is the top trendline for both of the triangles that I see). The 50 daily simple moving average (SMA) is barely over price and appears to possibly be causing some resistance. Moving averages can also act as support and resistance levels. A candle wick did break through the 50 today. It is considered a bullish scenario to have price over the 50. The 200 (red) is sloping up, meaning long term everything looks good right now. It would be good if the 100 (yellow) could get on top of the 50 (o: If the 50 crosses up through 100, that would be bullish. Moving averages change just like any indicator, and just a week or so price was under the 200 and now it is a healthy distance above it.
A while back, negative volume was very low on BA. NV (negative volume) went from very low to very high when price hit the 2nd bottom and remains high. Negative volume can indicate smart money and I like to see it because I know they will come in if it approaches that level.
There are pocket pivots near the first bottom (green triangle below left bottom). Institutions buy within consolidation periods and during uptrends. This buying will leave behind a volume signature, and that volume signature is called a pocket pivot. The definition of a Pocket Pivot is the day’s volume must be larger than any of the down volume days in the prior 10 days.
I apologize if this is confusing )o: I will probably dream about triangles tonight. (o:
No recommendation
Comment:
Correction. It would be good to see the 50 get above the 100 SMA. Moving averages should be in chronological order with the smallest SMA on top in a perfect scenario. Sometimes we deal with the hand we are dealt though (o:
Comment:
You can often see pocket pivots and negative volume with volume spikes noted on the 1 minute timeframe.
Hard resistance overhead. BA needs to break top trendline of these 3 triangles.
Hard resistance overhead. BA needs to break top trendline of these 3 triangles.