Boeing Company (The)

BA taking the long way?

62
I had a pretty strong conviction that BA will hit around 300~310 but looking at the market structure I'm leaning towards one more flush down to 200 level before a 3 wave move up to 310 level by Sept. It seems to be trading in a gigantic wedge that will contain the leading diagonal pattern. What ever may happen, I think it is in a no trade zone for now, until we get a clean uptrend structure set in mid term or a nice flush down to 190~200 level that may coincide with the lower trend line as well as golden zone for the previous 3 wave move up. IF the price gets there while being contained within the wedge and within the golden zone its a nobrainer buy expecting a sharp move up. Considering the percentage move has been getting weaker since the beginning a 40~50% initial bounce is expected and to happen in 7~25day period.

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