This may take a few weeks to play out.
Let me be clear, my bias here is bullish, I think BA is more likely to continue to appreciate from March lows than they are to further depreciate with more news about their 737 planes.
On smaller timeframes price is reaching oversold levels and technicals are suggesting that this zone is a good opportunity to buy.
If we can get a little bounce here on the 4hr-Daily timeframe, I'll enter a long.
If it breaks down past this level, I won't be short just yet, their earnings are right around the corner and I would like to see what they post then.
In my own crazy opinion, I don't think this earnings will be bearish on price, even if the earnings are trash I am expecting to see a jump.
Can't tell ya why, just seems like thats what's happening these days.
If the S&P and Dow start dragging or dump because of FOMC, then this plan is basically out the window and I'll be looking for a buy opportunity later down the road.
Let me be clear, my bias here is bullish, I think BA is more likely to continue to appreciate from March lows than they are to further depreciate with more news about their 737 planes.
On smaller timeframes price is reaching oversold levels and technicals are suggesting that this zone is a good opportunity to buy.
If we can get a little bounce here on the 4hr-Daily timeframe, I'll enter a long.
If it breaks down past this level, I won't be short just yet, their earnings are right around the corner and I would like to see what they post then.
In my own crazy opinion, I don't think this earnings will be bearish on price, even if the earnings are trash I am expecting to see a jump.
Can't tell ya why, just seems like thats what's happening these days.
If the S&P and Dow start dragging or dump because of FOMC, then this plan is basically out the window and I'll be looking for a buy opportunity later down the road.
Trade active
Comment:
Still long, did not hit my stop during the dip.
Comment:
Expected more upward movement here, seems to be consolidating lately. Not stopped out of my long and not short.