Swing Idea: Boeing
BA
broke out of the Daily descending channel and has consolidated into a flag pattern. Nice volume accumulation during this past week with a strong candle on Friday.
Plan: If SPY turns green this next week I like BA for a swing over $220 with initial PT of $240. Watching 3/19 $240 Calls (3.10/3.25).
I will only look to enter BA if the market looks stronger. BA can be a tricky swing due to its constant news reactions but it reacted positively this past Friday (2/19) with hopeful outlook on easing COVID restrictions. Airbus CEO also called for a "cease-fire" in regards to trans-atlantic trade tariffs on airplane subsidies. If there is + news in regards to the airplane trade tariffs I expect BA to move on that news.
Volume: BA trades with an avg volume of 11.28 million over the last 30 days. Would love to see >15 million volume and a bullish close to signify some momentum coming into BA.
LVN: If we break over $220 I'm going to be watching the LVN at $223-230 to see if we accelerate through the resistance at $227 or fail to break above. Not a bad spot to take some profits if you're in the swings in case BA retraces from $227.
*I am expecting this to be a slower developer unless news is released. So, keep an eye on the news cycle regarding trade, COVID, and airline/travel.
*I am also a long term holder of BA shares
BA
broke out of the Daily descending channel and has consolidated into a flag pattern. Nice volume accumulation during this past week with a strong candle on Friday. Plan: If SPY turns green this next week I like BA for a swing over $220 with initial PT of $240. Watching 3/19 $240 Calls (3.10/3.25).
I will only look to enter BA if the market looks stronger. BA can be a tricky swing due to its constant news reactions but it reacted positively this past Friday (2/19) with hopeful outlook on easing COVID restrictions. Airbus CEO also called for a "cease-fire" in regards to trans-atlantic trade tariffs on airplane subsidies. If there is + news in regards to the airplane trade tariffs I expect BA to move on that news.
Volume: BA trades with an avg volume of 11.28 million over the last 30 days. Would love to see >15 million volume and a bullish close to signify some momentum coming into BA.
LVN: If we break over $220 I'm going to be watching the LVN at $223-230 to see if we accelerate through the resistance at $227 or fail to break above. Not a bad spot to take some profits if you're in the swings in case BA retraces from $227.
*I am expecting this to be a slower developer unless news is released. So, keep an eye on the news cycle regarding trade, COVID, and airline/travel.
*I am also a long term holder of BA shares
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BA weekly chart
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Will be watching this week to see if the UAL news impacts BA
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More news about Japan grounding 32 BA jets due to the engine fire. Starting to get headlines so BA may fail back down this week.
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$220 lvl serving as a tough resistance. Big da for BA after gapping down and then rallying back up to $220. More negative news from Delta now about an emergency landing on a flight due to an engine issue. BA can't catch a break. If it continues to shrug off these headlines and breaks that $220 look out. Even with this weak market and bad headlines BA is showing some relative strength.
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BA held $207 so still chopping in that channel.
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Truly I am surprised BA has not sold off on 1) crap news and 2) Huge (relatively huge) market sell off haha but still the play remains intact. If anything this is showing strong relative strength against the market. BA's move may come in the form of a gap up above $220. Either way watch that $220 lvl. Tough lvl but when it breaks that $240 should come as long as we don't have any planes crashing🤞
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There she goes, wow what a move by BA. I unfortunately was busy and unable to comfortably execute the trade and didn't pull the trigger. Congrats to anyone who may have gotten into BA. Beautiful breakout. Let's see what kind of continuation BA can attain the rest of the week.
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Watching to see when BA finds a temporary bottom between 220-227. Massive move yesterday so expecting some cool off today.
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BA exploded yesterday but failed to hold any gains today and sold off heavy with the rest of the market. Current AH price is $214. More negative BA news coming out as well from Moscow. The play was the $220 break and then BA couldn't hold its gains. If the market didn't sell off today BA might have had a shot to move higher. Let's see where the market finishes tomorrow.
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Watching $BA this week to see if it holds above $207. If the market sells off the first few days of the week and $207 holds I will be watching BA closely in case the market rebounds. Break above $220 can see another explosive move. Conversely, if the market reacts positively in the beginning of the week BA could move through $220 earlier.
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Was able to play BA this past week for some scalps but unfortunately due to market conditions BA hasn't been able to fully breakout. On watch this week is BA $233 lvl for either day trading ($235 calls) or swinging ($240 calls). If SPY can turn around this week BA may be able to get that $240 and possibly $260.
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Incredible move the past few days by BA I hope some of you were able to capitalize. I was able to day trade BA a few different times this week. Let's see if we get to $260.