Revisiting Our Boeing (BA) Trade Idea⏤Clear Skies Ahead?

We often like to revisit some of our trade ideas in order to see how they have played out or determine where another opportunity might be. Today, we are going to revisit our Boeing (BA) trade idea from last week to do both.

Not only is the price moving in direction of our hypothetical trade, it broke its major resistance level of 220 in the process. This is setting those who did not pull the trigger the first time with an opportunity for redemption.

The set up you might want to look for here if you are planning on a swing trade is to see if we come back to retest this previous resistance of 220 before another move higher. Waiting for this kind of set up, along with one or more other confirmations, would be a higher probability trade and would make the risk vs. reward profile all the better for those looking to enter the trade.

As of right now, it looks like clear skies ahead for BA after breaking resistance. Keep this trade on watch as we progress through the week, but don’t forget about FOMC on Wednesday.

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