BA has already slipped twice below the bullish trend line . We're set to test the 200 SMMA again tomorrow, but I think with some market exuberance, we first re-test the double top which sets me for a pretty good short entry. While COVID fears continue to rise and with very little BA can do to address the current rate of cash burn, I think we pull back down to TP-1. TP-2 is a bit of a stretch, but certainly not out of the realm of possibilities.
today will probably decide what will happen with boeing, if it doesn't break the 191-192 range it could probably get down to the low 180s by the end of the week. Just got some bear call spreads for a nice credit of 10k that expires this week. if it closes below 187.5 by the end of the week i'll be happy
dmamaril
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@brandonaharris98, congratulations so far on the play! going to see where this next leg moves, but i suspect we consolidate for the remainder of hte week