Astatine

Boeing -- still some downside to go

NYSE:BA   BOEING CO
I think we see a pretty complex fractal over the next few weeks -- early next week, we should see a dump, which would result in a minor new low, and then a massive rip to fill the gap from a few weeks ago. Then we start our final descent.

Fasten your seat belts.
Comment: the fractal under question
Comment:
Comment: Looking at this potential keenly, under which we will only get to 336 by Aug 2nd. I am actually liking this setup more
Comment: is the fractal -> starting 10th July 2010. Of course scaled downwards since those were quite volatile times
Comment: Bang in the middle of the target box -- now or never to turn down
Trade closed: stop reached: Oops, that didn't work as I expected.
Comment: I will stop out if we close above 253 at close today. Lets see

Comments

Still hoping for one last push up to 0.5 fib retracement (from swing high to swing low) around 350 then down to 320. Your thoughts pls?
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Astatine gumtree116
@gumtree116, Same thoughts here
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gumtree116 Astatine
@Astatine, Great to see we are on the same page. MY SL will be around 356, yours?
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Astatine gumtree116
@gumtree116,
mine is at 353, targetting 318, but 320 is great too
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gumtree116 Astatine
@Astatine, Reshorting at around 357 with SL at 363. Do you think it's worth taking the risk?
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Astatine gumtree116
@gumtree116, well I think we have now moved into the territory of just a corrective move down, and likely bottom higher than 330, so to me that leaves too many possibilities of where the bottom could be. So not worth the risk to me
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Even with the trade war nonsense, do you think we will still see a rise to the 245-255 range before the next dump?
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Astatine rawrapillar
@rawrapillar, I hope you mean 345-355 region mate, if so, yeah I still think we do. A marginal higher high would produce a negative divergence vs the indicator and would set up a stronger decline imho
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Thanks for posting. This is great observation.
Reply
Astatine rawrapillar
@rawrapillar, no problem -- my stops are tight on this short though. My analysis says that if we gap up tomorrow, we will end up at 360s for a top and only pullback to 320 early-mid August. Lets see which plays out
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