737 MAX has caused so much damage to BA already and just today, we had another problematic news. Potential Faulty Wing for 737 MAX is the issue for now and as the title says, I think it is just "potential" and there is nothing to worry about, at least yet.
Since the software problem, BA has lost ~25.00% of its value. Meantime, the bearish momentum seems to be gradually fleeing out of the market. This is present in both daily MACD and AO. Moreover, we had a doji candlestick or the One-Day Reversal, Bottom of Bulkowski by the end of today's session. With respect to support and resistance zones, ~327.00 and 89-MA on the weekly chart are the main support levels for now (I personally see these strong enough to hold and eventually stop the downward move). The One-Day reversal pattern is not completed yet. Keep in mind that the general market is bearish and more risk is involved for positions against the general market. In connection to this, MACD just had a sell signal today...
Updates will follow...
Since the software problem, BA has lost ~25.00% of its value. Meantime, the bearish momentum seems to be gradually fleeing out of the market. This is present in both daily MACD and AO. Moreover, we had a doji candlestick or the One-Day Reversal, Bottom of Bulkowski by the end of today's session. With respect to support and resistance zones, ~327.00 and 89-MA on the weekly chart are the main support levels for now (I personally see these strong enough to hold and eventually stop the downward move). The One-Day reversal pattern is not completed yet. Keep in mind that the general market is bearish and more risk is involved for positions against the general market. In connection to this, MACD just had a sell signal today...
Updates will follow...
Comment:
The pattern is completed now. Going long tomorrow at the opening...
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Trade closed manually:
1.509% Profit