Much needed bounce off 2014 support level has resulted in 15% rally, which has now meet major area of resistance. Conservative long entry above the $173.25 level. Short term trade entry above $169 but the trendline will very likely prove to be strong resistance. Until the stock can break the downtrend, momentum is still in the hands of the bears.
I would also keep in mind that the 737 Max certification is very close from being completed. Today the FAA Chief will be piloting it. If it gets certified in the next two weeks BA I believe could have a very strong rally. I am bullish on BA. My 2 cents.
I would also keep in mind that the 737 Max certification is very close from being completed. Today the FAA Chief will be piloting it. If it gets certified in the next two weeks BA I believe could have a very strong rally. I am bullish on BA. My 2 cents.