Is Boeing a buy before earnings? LONG Long

Boeing Company (The)NYSE

Description

⋅ Jan 20, 2024 1:25 AM

This is a daily Boeing chart with the idea on the chart in the text. There may be a good entry

before earnings using a stop loss under the POC line and an ultimate target of the projected

trendline resistance at $280-$300 if all goes well fundamentally with an FAA investigation

and its sequelae. A megaphone pattern demonstrates increasing volatility in price action which

is something some traders take to the bank. My analysis is that this may be a safe swing trade

until the report of the 24Q2 earnings in about 100 days.

Trade active

⋅ Jan 21, 2024 4:03 PM

BA updated with further analysis of Fibonacci retracement

Comments

HighOnOctane

⋅ Jan 26, 2024 7:22 PM

I believe it will hit $220.50 by the end of the 31st.

ButteryNipples

⋅ Jan 25, 2024 3:38 AM

What about how they are going woke and going broke? 6 mishaps in a few weeks in Boeing planes isn't good QA

AwesomeAvani

⋅ Jan 25, 2024 5:42 AM

@ButteryNipples, I am sticking with my position but pulled the profits since the idea off the table. Options up 93% pulled about 25% of the position 5 minutes after the news wire reported a nosecone fell off something other than a MAX while in flight. BA has lots of contracts and most of them have no escape in the legal language for things like this. Future contracts is a whole 'nother story. I tend
to ignore hypotheticals. Time will tell. If there is another drop if will play the backside pop and double up. ( beats the casinos !)

MyCryptoParadise_Nathan

⋅ Jan 20, 2024 6:53 PM

Swing trading based on anticipated earnings and using a stop-loss strategy can be a well-thought-out approach.

AwesomeAvani

⋅ Jan 20, 2024 10:23 PM

@MyCryptoParadise_Nathan, Yes, and most of the time it beats wishful thinking and fictional future reality ......

Shrey1433

⋅ Jan 20, 2024 1:38 AM

I entered the options trade at 203-205 levels for the expiration on Feb 2nd. I’m seeing levels of 225-230 by the end of next week.

AwesomeAvani

⋅ Jan 20, 2024 2:08 AM

@bhaktashrey1433, Thanks. I got mine OTM at $ 225 and got them dirt cheap. I think we are seeing the same stuff. Mine expire at the March monthly. Will be interesting to watch volume and price heading into the 23Q4 earning report. I like to buy bad news. I picked up some PLUG options after the sell-off and bought calls in AAPL when an analyst reported a 20% upside and the iphone fell out of the sky from 60K feet and still did its thing. The calls expired today they bagged over 10X in three days.

Shrey1433

⋅ Jan 20, 2024 2:25 AM

@AwesomeAvani, that's great. I think I might roll over my options to Feb or march expiry if the bullish trend continues.

Shrey1433

⋅ Jan 20, 2024 2:33 AM

@AwesomeAvani, I hope your plug options have a long expiry date. I think the way Plug stock has fallen, it is digging it's own grave and will see reverse stock split.

AwesomeAvani

⋅ Jan 20, 2024 2:41 AM

@bhaktashrey1433, I am in the July expiry and see the recovery from the sell-off as taking time to evolve. the dilution is unfortunate but if floating shares are bought up by bargain hunters, the public offering may evaporate if some financial health is injected into the mix. A risky trade for sure but sometimes to the adventurous goes the spoils. I have a FCEL position just taken. ( I think Biden will pump green energy to solidify his base as the political cycle moves along.) NKLA on the other hand I have puts against its hydrogen idea. I sometimes buy shares when its countertrending however to try to harness bullish volatility when there is a downtrend correction printing