BA Analysis, closing wedge within long term down channel
BA has been trading within the red channel, however when a higher low was made it turned bullish forming a triangle outlined in the white solid line.
This was broken downwards first due to market risk, then recall + FAA inspection changes. However I believe at these levels, most of Boeing's bad news is now priced in and any future small positive announcements can lead to 20-30%+ upside.
New triangle outlined by the green dashed line using the august low, and revisiting the fib golden pocket zone. If BA can spring from here I am looking at 170 intra week target.
This was broken downwards first due to market risk, then recall + FAA inspection changes. However I believe at these levels, most of Boeing's bad news is now priced in and any future small positive announcements can lead to 20-30%+ upside.
New triangle outlined by the green dashed line using the august low, and revisiting the fib golden pocket zone. If BA can spring from here I am looking at 170 intra week target.
Comment:
projected green dashed line held within 2.5% of price action, want to see a move by end of September latest