View: Boeing_Daily_June092015.jpg

Boeing_Daily_June092015.jpg

Boeing setting up for a POTENTIAL long trade. 

Today price dipped to just above the 50% retracement of BA's most recent up impulse. 

In addition, we have prior structure from early June 2014, as well as the 200-day SMA nearby for technical support. 

Both the 12,3 slow stochastic and the SMI 34 are in extreme bearish readings, another sign for a potential reversal. 

Should we see BA begin to trade bullish intraday, and CLOSE a daily candle above 141.37, a long position can be considered with a working thesis of a double bottom on the daily chart

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