MarketMotion

BA $315 first and then $372!

Long
NYSE:BA   Boeing Company (The)
I was a big buyer yesterday in the July and Novembers options. BA has been beaten up late with the same BIG POP and FADE pattern since Covid. We have another falling wedge / bull flag that indicates $315 PT and with rising resistance line (yellow dots), things seem to be lining up. We have also seen the most dark pool I have seen on BA in quite some time. $780M in shares accumulated (my belief) in the $227 - $231 range. Today we got a confirmed double bottom indicating a short term price spike to $235 once we cross $231. I would assume we will be testing the top of the falling wedge pattern around $238 which I do believe will break this time. Market Makers have sold enough puts now and if they do not want to pay those puts, the will need to get neutral on their position and with max pain 250 spot price on 5/21, I feel pretty good about it. In addition, the .618 fib retracement level has been holding up pretty well.

Support, well we bounced off 225 ( 8 handles up in one day) and the 100EMA today creating a double bottom . MACD , RSI , MFI , William R% all at extreme oversold levels and with the $780M in darkpool activity, I have to believe this was buying.

With that said, I see BA making it's next run towards $315 with another dip back toward 270/280 before the final push of the weekly parabolic pattern to $352. It may just go complete parabolic in this last stage and shoot straight for $352. What will be the news this time? China? - something brewing.... GL!

Comments

This is literally one of the best analysis I have read in a very long time. I’ve been adding super aggressively to my BA position and I know it will break past $300 to $330 sooner than people think! Thank you for the analysis!
+1 Reply
@ktaba, thank you and just keep being patient :)
Reply
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