Ugh, just get me started on Boeing. The ugliest most ridiculous technicals in a chart I've ever had the "pleasure" of addressing. One of the most obviously manipulated stocks on the US stock market (next to SPY). Investors trading BA should be aware of large cap players (and banks) continuously pumping and dumping this trash. I will explain the technicals as far as I'm willing to in respect for a personal request. The only reason BA is still valued so high is because of government stakes (black ops, defense contracts, etc), otherwise the stock would sit at a cool $20 per share, at best.
Pump and dumps earlier this year are a basket case and will become "the new normal" for this stock. Look at the low volume pump in January through February, and the high volume dump in March. Next you'll notice the February candle (on the monthly chart) overshot the b-band not by little. An overshoot like this requires an immediate reversal to overshoot the lower b-band (called 're-balancing'), which is nowhere to be found. You'd expect the stock to soon correct this and go lower, but I'm doubting anything to go "as expected" from here forward.
To sum this up: Reading the technicals on the 'weekly', it points to a post earnings drop (October 23rd) to the 330's mark, and there is somewhat a likelihood for a mega-dump right below the 300 mark. But you should heed my advice and keep your money as far away from this as you possibly can.
Pump and dumps earlier this year are a basket case and will become "the new normal" for this stock. Look at the low volume pump in January through February, and the high volume dump in March. Next you'll notice the February candle (on the monthly chart) overshot the b-band not by little. An overshoot like this requires an immediate reversal to overshoot the lower b-band (called 're-balancing'), which is nowhere to be found. You'd expect the stock to soon correct this and go lower, but I'm doubting anything to go "as expected" from here forward.
To sum this up: Reading the technicals on the 'weekly', it points to a post earnings drop (October 23rd) to the 330's mark, and there is somewhat a likelihood for a mega-dump right below the 300 mark. But you should heed my advice and keep your money as far away from this as you possibly can.
Trade closed: target reached
