Decreasing Volume, increasingly dire situtation now that airports are reducing travel, reducing airplane maintenance, a major source of income for Boeing. Possible retest of lows? give me your thoughts.
Komentar
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A lot of airlines are printing this pattern, bloody day incoming?
And if im not wrong low is the same but RSI divergence is higher low. Its a sign of bullish reversal
tuongvy0501
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It has been testing 120 many times. Very strong support. I kind of doubt it will break. Many demand waitting at that area because when it touch it immediately bounce
Jorji
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@tuongvy0501, Its broken before, and when i posted it was lower than the 120 support. Now im not saying it could tomorrow bounce up through the resistance, but I wouldn't be claiming upward until its testing that downward trend line. As for now, we are in a recession, Airlines are literally fighting for their lives which Boeing relies on, and momentum is pushing downward (stochastic rsi).
there is a slight slight slight rsi divergence on the 1D, but its very minimal. Take a look at my chart with RSI instead.
personally, I think its heavily dependent on the whole market condition, if we see a selloff in the SPY DJI or NASDAQ, we'll likely see this support breakdown.
lmk what you think. thanks for the input!