Today I am going to show you implementation of my boxes trading strategy on
BA
stock price movement.
Boeing stock price has been extremely volatile since the COVID crash.
Let's take a look at it's last 6 month price movement.
1. Price bounced from long-term support and found a new demand at 205.
2. Price reached 278 and got rejected from a strong resistance. Thus, big box was formed at respective supply and demand levels.
3. Price dropped and could not get past 258 level during the span of the next 4 months. At the same time demand was found at 220 level, forming anoter box.
4. Breakout of the box downward led to return to the original 205 demand level in the bigger box, which happened to be at the long-term support line as well. That's a strong level.
5. Price soared all the way to 240 and rejected to form another smaller box.
September action will be crucial for determining further stock direction.
Watch for trend line breakouts as they are coming closer.
If the long-term support does not hold - we move lower to the box demand. If that does not hold either, we move lower to another long-term trend line.
If the price breaks through the smaller box supply and resistance trend line, we move higher to the big box supply of 278.
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Disclaimer!!!
This is not financial advise.
BA
stock price movement. Boeing stock price has been extremely volatile since the COVID crash.
Let's take a look at it's last 6 month price movement.
1. Price bounced from long-term support and found a new demand at 205.
2. Price reached 278 and got rejected from a strong resistance. Thus, big box was formed at respective supply and demand levels.
3. Price dropped and could not get past 258 level during the span of the next 4 months. At the same time demand was found at 220 level, forming anoter box.
4. Breakout of the box downward led to return to the original 205 demand level in the bigger box, which happened to be at the long-term support line as well. That's a strong level.
5. Price soared all the way to 240 and rejected to form another smaller box.
September action will be crucial for determining further stock direction.
Watch for trend line breakouts as they are coming closer.
If the long-term support does not hold - we move lower to the box demand. If that does not hold either, we move lower to another long-term trend line.
If the price breaks through the smaller box supply and resistance trend line, we move higher to the big box supply of 278.
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
