Boeing Company (The)
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BA - Buying calls on upside break of consolidation

341
I encourage you first to look at the weekly chart and see that 10sma is over the 20sma, price has held over the 20sma, and RSI-7 is over RSI-14 and hovering around 50 line. Then see daily chart and notice the consolidation since June looks like an inverted head and shoulders is completing, and RSI is again hovering around 50 line.

This provides context for my 30m chart, which I used to enter a trade. I recently posted a BA chart (linked) and bought calls then, but ended up selling them due to price action and technicals. Now here is another opportunity. See the three boxes on chart to understand why I bought 9/11 182.50 calls yesterday afternoon.

There was a bullish engulfing candle followed by price going higher and the next candle closed higher than Sept.1 high close. RSI is showing a double dip at 50 line and then moving up. Directional volume showed a bullish cross and with average (yellow line) being low, there is room for volume to come in as more buying occurs.

Today's morning rush to almost 181 saw my option value double and I could have taken that profit. Given the weekly and daily context, I held my calls for a move up to 188-190 at least. If this move up fades back like the past few attempts, I have a stop set.

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