Boeing’s Market Cap is Crashing $BA
I wrote a few weeks ago when the BA news came out about their 737 Maxes having trouble that the chart look gross. Not only did it look like a parabolic momentum top, it likely has a lot of people trapped from the last few years. Her is a clear line in the sand for the BA lovers and K believe it will be tested very soon.
You can see the parabolic “bitcoin like” rise that BA has experienced over the past years. If you zoom in you will notice the consolidation, breakup, and failed breakout on the chart.
Giving this Price Level (365-375) back and watching the momentum reverse here is clear that BA has changed. Below 360 and you have a clear MONTHLY Bearish engulfing follow through candle that will be bearish for the days and month to come. Once 360 breaks, 300 is a given and better hold for the sake of an avalanche too down into the low triple digits.
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Nice observation...things are about to get worse for BA.
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