Boeing: Will it fill the Gap next week? What's next?

It's been a month since Boeing's share started taking hard hits following the crashes of their 737 MAX aircrafts that gained a lot of unfavorable media exposure. The biggest hit was the March 11 1D candle that left a big $13 Gap.

The recent (since 2018) price action on BA shows that every 1D Gap (either bullish or bearish) was filled. So in technical terms one can view the recent 361.50 bottom due to the 737 MAX crashes, as a technical filling of the January 29 - 30 Gap.

It is reasonable to expect that the 737 MAX Gap will be also filled so our target is now 415.60. The question that remains is what is next for BA? Based on a similar price action during May - July 2018, we may see a 0.8 Fibonacci retracement at 428.50 as a temporary top. Then depending on the price action, the situation needs to be reviewed as with this kind of volatility on the monthly chart (ATR = 53.0614) despite the obvious long term uptrend (RSI = 62.909, MACD = 47.210, Highs/Lows = 8.9928), anything is possible. The goal for investors is to take advantage of those Gaps and primarily buy the dips.









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