Boeing Economy Class, 1970
Boeing Economy Class, 2024
On Jan 21, 2024 I published chart of BA to this free version of my newsletter and then followed it up a week later. Here is the original post, and the follow-up.
BA: Good News; Bad News (Jan 21, 2024)
BA - Daily Trend Model
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Last weekend's post suggested BA heading lower, giving alternative triggers for action - link to post. Both key levels were hit as BA had a bad week, dropping from 215 to 205 with an intraday low of 198.32 on Thursday.
What's next?
BA - Daily Trend Model
Initial target is the Oct 2023 low of $176.25, a test of which can be seen in the coming weeks. A more speculative price target is the Fibonacci extension levels that lay below last October's lows, between $150 and $100, in a longer term five wave impulse leg bottoming sometime later this year. Out-of-the-money puts expiring in the second and then third quarter have huge potential.
BA: Current
BA has risen above its trend signal line, currently at $172.00. It will either continue higher in which case a Buy Signal will be generated, which could be a call buying opportunity, or price could be finishing up a Wave (4) retracement before retreating back below that key level in Wave (5) and in which case a fresh Sell Signal will be generated, targeting new lows for the move.