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.
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:
BA updated with further analysis of Fibonacci retracement
