Trade Signal Update: Boeing (BA) As Predicted drop quickly Following Earnings Report

 In Daily recaps, Market News, Technical View, Trading Signals

Our July 24th Short Signal on Boeing (BA) before earnings report worked out well. Our signal was for a Short at $373.0 price level with ultimate price target at $300.0. Considering the quick price drop we have seen, it would be wise to take partial of the trade profits now and leave half position still short. We will COVER (buy) half position at 343-344 price level, taking 30 points move and hold remaining position until we hit our ultimate price target. Use our entry price at 373 level as your new Buy to Cover (stop loss) level, by doing so, we remain with a risk free trade on remaining position!

July 24th trade signal: Boeing Is going to report earnings today. Considering the ongoing trouble with their 737 Max jets grounding. We believe investors will stay away until the issue is clear. We suggest traders take the opportunity to SHORT the stock and profit from further price decline in stock price.

The trade plan as you can see on chart is to Short at 373 price level and set a Take Profit at $300. In order to protect the trade consider covering the short position in case Boeing is trading over $402.0 price level.  (you risk 7% for a 20% potential move).

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