BA - Breaking out of flag

• Chart doesn't need commentary, but bullflag breakout in progress.
  
• long targets - 230, 260, Possibly 350
  
• Buyers will scramble above 230
  

Trade active:

Testing 11EMA, but volume doesn't look constructive to me. Want to wait for clarity

Trade closed: stop reached:

Lesson: Patterns fail...never fall in love with a developing pattern. Now it will need substantial effort from bulls to pull up the MAs and form another flag around 215. It is possible, but might need more time. There is lot of congestion overhead until 240. If you are a LT investor, you might want to wait until it retests 60VMA possibly around 200. I will wait for new set up to appear.

Comment:

just when things looked bleak, there's hope. If it forms a flag above 205 for ramp into 240 and overthrow after next ER.