Bullish on BA long-term, with it having broke past it's two year downtrend line stretching back from March 2019.
In the very near-term I'm expecting this to do either consolidate above this trendline to function as a bullish retest then go up further and break past (what I think) is a fairly weak resistance area of about 278-282. Due to it gapping down when it fell last year, this could rise up pretty quickly due to lack of significant resistance bands.
Regardless of the short-term, having broken that downtrend line was the most significant thing it could've done for a long hold.
In the very near-term I'm expecting this to do either consolidate above this trendline to function as a bullish retest then go up further and break past (what I think) is a fairly weak resistance area of about 278-282. Due to it gapping down when it fell last year, this could rise up pretty quickly due to lack of significant resistance bands.
Regardless of the short-term, having broken that downtrend line was the most significant thing it could've done for a long hold.
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Looking a little troubled but just waiting to see if this can back ontop of the multi-year downtrend line.
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Regained ground above significant downtrendline:
