Trading idea for Boeing Co. (NYSE)

Boeing Co. (NYSE)

#BA

The trend is downward. The stock is trading between the 365 EMA and the 135 EMA. The upward wave patterns are truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates an oversold condition.

Trading idea:

Sell upon the formation of a downward wave pattern, where wave (A) breaks through the trendline of the preceding truncated upward pattern.

Place a stop-loss order above the local high of the truncated upward pattern (192.53).

Target levels: 187.80; 185.50.