Wow what an amazing run for BA. I tried a short at 160 area got out at breakeven on dip to 156 area after being down 100$ on that. Very hard to try and top tick this but based off previous support, potential scholastic RSI up in the 100 area same spot everytime previous bA hit ob 4 hour caused a top , this could be getting close to that reistance zone.
Now overall W pattern would insinuate a neckline up at 174 if we do contiue up. My thesis is we are overheating and looking a bit too heavy. I also am watching the weekly 50 ema which is at roughly 167 as a heavy reistance also which happened the last 4 times we tested that we rolled over. This is something I am trying again as I opened an 11/25 150 put on BA at roughly 167 area and will try to ride this out a bit and see how it goes. We do have potential support to be flipped at 160 if we can break and hold below that 156 and 153 are 2 key areas. Overall I’m looking at 148$ to bounce the trend.
Reasoning is previous bounce we had we rejected at 50 weekly EMA. We fell back to backtest the 21 weekly and failed. This
Time we broke up now cureently tested the 50 weekly EMA, my speculation. Would be an attempt to hold 21 week EMA as support, if that catches and holds, bull market scenerio would be a bounce and rip which is between 148-150 even.
Def a risky area still which Mabey I am early again so use your own risk and anylasis. This is my plan and why. I can be wrong.
Now overall W pattern would insinuate a neckline up at 174 if we do contiue up. My thesis is we are overheating and looking a bit too heavy. I also am watching the weekly 50 ema which is at roughly 167 as a heavy reistance also which happened the last 4 times we tested that we rolled over. This is something I am trying again as I opened an 11/25 150 put on BA at roughly 167 area and will try to ride this out a bit and see how it goes. We do have potential support to be flipped at 160 if we can break and hold below that 156 and 153 are 2 key areas. Overall I’m looking at 148$ to bounce the trend.
Reasoning is previous bounce we had we rejected at 50 weekly EMA. We fell back to backtest the 21 weekly and failed. This
Time we broke up now cureently tested the 50 weekly EMA, my speculation. Would be an attempt to hold 21 week EMA as support, if that catches and holds, bull market scenerio would be a bounce and rip which is between 148-150 even.
Def a risky area still which Mabey I am early again so use your own risk and anylasis. This is my plan and why. I can be wrong.