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BA stock price fell towards the major horizontal support yesterday at $185.50. Price made a low at $186,85 and then bounced strongly higher towards $198. This was the fourth time price reached this support area and bounced higher.
Blue lines - bearish channel
Red line -horizontal supprot
BA stock price got rejected at the upper channel resistance this week and turned lower. Price tested the red horizontal support and so far it seems that it continues to respect it. Staying above it is key for the trend. Failure to stay above it, will push price towards $174 at least. Holding above it, will open the way for another test of the channel resistance at $220.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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