BA has a strong chance of breaking above the 218.80 level, with a potential move toward 221.98.I plan to enter 1 tick above 218.80, with a stop-loss based on the 5-minute ATR (period 10).
🔍 Technical Outlook:
BA is currently moving within an upward ABCD channel. The projected upside is capped by a strong resistance zone at 221.98 – a level derived from the daily chart and previous price action. The market may or may not react to it, but it’s a logical target within a solid risk-to-reward setup.
One aspect I particularly like about this setup is the market’s inability to close significantly below the previous pivot high at 215.80. This suggests underlying strength. If we see a confident move above resistance, the trade could be triggered with momentum.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.