Usually people see decending triangles for a continuation to the downside. I will view it as a indicator for something about to occur as it keeps getting tighter within the triangle. With the DOW at about 50% retracement if you plot from High to low and do it for Boeing, I believe it is lagging and price should be $220 if it is fufilled. There is still a need for military technology and it will continue to innovate. I have 1 BA $135 Call for $25.50 August 21. I would like to sell it for $80.
Nota
1) As Per Robinhood News: "Berkshire Hathaway reported a huge first quarter loss of $49.7 billion"2) As per Marketwatch News: "Back in April, Berkshire Hathaway BRK.A, -2.74% BRK.B, -2.50% disclosed that it sold large blocks of stock in Delta Air Lines DAL, -6.90% and Southwest Airlines LUV, -6.46%."
I wonder if this will have an impact on Boeing. If it heads back below $87 per share, I will buy another contract for Boeing preferably at the money with a longer time till expiration. I am comfortble with the risk tolerance of the current contract I own.
Nota
Respect the TA! Love watching MitchRayTA on Youtube.Trade fechado manualmente
Exited 1 BA $135 Call for $86.2 August 21
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