BOEING CO 15M Long - Growing for 2-3 days, what will happen next
Boeing is moving upward using a staircase or steppingstones (SS). If this pattern persists and the value in stocks keep growing we could be hitting strong resistance in a few days around 303. Considering the last few days have been good for Boeing with sometimes gains of at least 10% a day, I'm betting my chances on a continuing growth. As we get near SS6 or SS7 risk get higher and higher as the trend might break and going into a relapse.
My strategy for now is daytrading/scalping, hoping to take more profits on the daily. But I wouldn't go too long because of the strong resistance we're headed towards. One thing I noticed as well, since the exponential growth curve started volumes seem to be increasing as well (starting from SS1), which makes things look even more positive. Time will tell how long this trend will hold and going down for a correction wave.
As for the risks we might drop as low towards 20MA (Yellow) or the exponential curve (White dotted), but worst case (considering averages look good and recovery looks strong) we could hit the 60MA (Purple). But I don't expect Boeing to go any lower than that.
Trade safe, stay safe!
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I'm purely a beginner in technical analysis . Please hit like, follow or place a comment if you wish.
Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
My strategy for now is daytrading/scalping, hoping to take more profits on the daily. But I wouldn't go too long because of the strong resistance we're headed towards. One thing I noticed as well, since the exponential growth curve started volumes seem to be increasing as well (starting from SS1), which makes things look even more positive. Time will tell how long this trend will hold and going down for a correction wave.
As for the risks we might drop as low towards 20MA (Yellow) or the exponential curve (White dotted), but worst case (considering averages look good and recovery looks strong) we could hit the 60MA (Purple). But I don't expect Boeing to go any lower than that.
Trade safe, stay safe!
_____________________________________________________________________________________
I'm purely a beginner in technical analysis . Please hit like, follow or place a comment if you wish.
Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
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