When the news hit, it barely went down in after hours and is just moving down with the greater market. This shows that it was already priced into the stock and now everyone can get past it and move on. Everyone knew this was coming. Boeing is going up to $240 range very soon!
RizeSenpai
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@ktaba, We shall see, i don't often trade the fundamentals i trade purely based of the technical and right now from what i see on the chart this asset should be going down very soon.
I could be wrong but it looks like it wants to dump. The News is just a nice addition to my already bearish bias after looking at the price chart.
ktaba
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Thanks for the response. It’s made a huge move since the beginning of November, so it’s just giving some back until it starts to move up again. We have also had a lot of recent made news which has kept the stock weighed down. But now that we have clarity, I believe it will start to move. Any company that is getting hit with a 2.5B fine should be down more than 1%, right? It shows that it was already known. If they can get new orders and ramp up deliveries, this stock will rocket! Good luck!
RizeSenpai
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@ktaba, BA saw a bounce after hitting a support after a huge crash, it is in my opinion that this is a corrective bounce and that we will see further downside for either a retest of the support zone between 90 and 160 or a failure to retest which in that case we may see multi year lows.
I wish you luck in your trades though keep your risks managed.
ktaba
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Again, everything is already baked in. This, as well as the other airlines, etc move in exact tandem. Right now, the market is moving to other sectors that are still undervalued like industrials, materials, etc and playing catch up. Shortly after, the travel related sectors will make another fast move up. I see BA at $240+ soon. Many major investors have already started positions, and that will continue to grow. Thanks for your analysis and thoughts. Good luck!
RizeSenpai
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@ktaba, Possible but there are no certainties in trading only probability so neither you nor me can know for sure that it will go up or down all we can do is look at the Price Action, News, and The Performance of the underlying company to make an educated guess based off probability rather or not we think the price will go up or down. So sure, maybe we will see 240+ but from my perspective i am making an educated guess is that this is just an ABC correction and we are headed lower.
ktaba
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All true statements. If we knew, then we all would be rich! There are sellers and buyers, that’s what makes the market. Good luck and let’s see where this goes. I am heavily long and I see only bright skies from here.
RizeSenpai
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@ktaba, Yep I can get down with that! I look forward to seeing what kind of price action we get within the coming weeks it will likely be a very volatile move gl on your longs.
ktaba
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Yeah I know we are on opposite sides lol but I hope I am right at least in the long term (month), since I am long with some considerable funds. Good luck again and have a great weekend!