The fate of BA is going to be determined this week. Is it breaking down or reversing back up? It feels like it really want to go down but let's the trendline might hold up. The demand is still low so we have to see. Keep it on your watchlist.
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if today close in red, the bearish scenario would be confirmed.
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It closed green, going to test the upper limit this week.
@ktaba, landing means headed down. Its a stock, it'll take off again someday tho
ktaba
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@Ramhusk BA popped today on news of China testing the 737 and is holding support. As I said before, stay long! BA to $300 soon!
Avatar_Trading
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@ktaba, the move was unconvincing imo. I believe it will retest the 200 day MA in the next week and a half. Then we'll see.
ktaba
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@Ramhusk price action speaks clear. We’ll see what happens through when it reports orders, earnings, etc this month. But taking fundamentals into consideration all I see is upside, revenge travel, oil prices going up making airlines buy newer more fuel efficient planes, China approval and orders, vaccines, Europe reopening, etc all this will propel the stock higher. The only real negative I see is the new CFO, and whether BA will issue stock. Good luck mate!
@Realamh great analysis! I am bullish for sure. They will be reporting orders soon and earnings are coming up in a couple weeks. As well as China approval and their orders coming in. All those catalysts are reasons it will take off to $300. Stay long!
flyingcolorz
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@ktaba, Weekly and Daily charts are both super bearish.