BA on Down Trend?

[Kiang Kiong]

Hi Wei Ren, Last night BA opened up then fell to 162 and closed at 164. Please advise TA if it is now on downtrend to 150, or 104? Regards KK Wong

[Research Department]

Hi Kiang Kiong, 

Boeing is still trading within a range. However, the support level at 165.27 has been tested 4 times, which kind of weakens the support. Unless Boeing return back above 190.00, I would think that Boeing would likely test 146.33. 

[Kiang Kiong]

Thanks Wei Ren,

Sorry to trouble you again. I am still learning about TA hence maybe a pain to you asking the same over again as I have an interest on BA.

Now that BA closed with a Bullish Engulfing, briefly hitting your support zone. It didn’t hit my buy at 153 and bounced up.

Like to hear from your analysis if this:
1. is just a false breakup; or

2. is on uptrend to your predicted 251- 268?

Thanks in advance for you kind analysis.

Regards

KK Wong

 

[Research Department]

Hi Mr Wong, 

Yesterday bullish rebound has finally show some bullish reaction at my support zone, like finally. For now the trend is still with a range and the next immediate resistance of 190.00-200.00 will be the key resistance zone to be tested first. We have to see what is the next few action going on in the next few days

[Kiang Kiong]

Hi Wei Ren,

Is BA forming a double top?

[Research Department]

I prefer an inverted head and shoulder and I’m still holding to the view of upside to 200.00

[Author]

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