Here comes Boeing everyone. Wait for the perfect "short" entry.
Here's why it's super tricky with Boeing. It's been pumping for years, setting new all-time highs, and guess what... It's time to consolidate, isn't it? but! now it's pumping again after caressing the 200 MA on the daily horizon and bouncing back upwards. Don't get tricked, it's just a temporary recovery before it heads back down.
Now let's step a little back and look from a different perspective. The weekly horizon. Yes, you guessed it. Price hasn't reached the 200 MA yet.
Bottom line is this: When doing technical analysis, it's crucial to study the charts from as many horizons as possible. The hourly, 4h, 12h, daily, weekly, and monthly. Depending on your investment goals, each horizon will give you a different answer.
My prediction for Boeing:
According to the daily horizon, the price can bounce back to the 418$ range quiet confidently within the next few days/few weeks.
The weekly chart tells us a different though. The price will most likely drop back to test the 200 MA support. That would be somewhere between $260 and $300, depending on how soon we test that support.
We will keep updating on this occasionally. Stay tuned!
Thank you for reading through and please hit the subscribe button! xD
Now let's step a little back and look from a different perspective. The weekly horizon. Yes, you guessed it. Price hasn't reached the 200 MA yet.
Bottom line is this: When doing technical analysis, it's crucial to study the charts from as many horizons as possible. The hourly, 4h, 12h, daily, weekly, and monthly. Depending on your investment goals, each horizon will give you a different answer.
My prediction for Boeing:
According to the daily horizon, the price can bounce back to the 418$ range quiet confidently within the next few days/few weeks.
The weekly chart tells us a different though. The price will most likely drop back to test the 200 MA support. That would be somewhere between $260 and $300, depending on how soon we test that support.
We will keep updating on this occasionally. Stay tuned!
Thank you for reading through and please hit the subscribe button! xD
Penafian
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