Hello traders,
BA just touched a very significant support level of 310$, the company has been in trouble ever since launching the 737 MAX , the crashes and the way the company handles the issues, the company grounded it's 737 MAX fleet and is losing millions daily because of the failing design of the aircraft.
With all its problems , current and in the future, the price crashed (pan intended..) to 310$ as the company is about to announce its earnings on Jan 31.
If the earnings are going to be lower than expectations, we estimate a meltdown in price all the way to the 200$ levels,
Our handling for BA is a Sell Stop @ 300$ with Stop Loss at 320$
Trade safely,
Alon (AlphaOverBeta)
BA just touched a very significant support level of 310$, the company has been in trouble ever since launching the 737 MAX , the crashes and the way the company handles the issues, the company grounded it's 737 MAX fleet and is losing millions daily because of the failing design of the aircraft.
With all its problems , current and in the future, the price crashed (pan intended..) to 310$ as the company is about to announce its earnings on Jan 31.
If the earnings are going to be lower than expectations, we estimate a meltdown in price all the way to the 200$ levels,
Our handling for BA is a Sell Stop @ 300$ with Stop Loss at 320$
Trade safely,
Alon (AlphaOverBeta)