Details: Looking for downside within wave (C) as we seem to have had a clear three wave move in wave (B) and we are now looking for further downside.

The Boeing Company, (BA) 1H Chart.

BA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave 5 of (C).

Direction: Downside in wave 5.

Details: Looking for continuation lower. As we seem to have topped in wave 4, and wave 3 hit equality with wave 1, we could see an extension lower within 5.

This Elliott Wave analysis of The Boeing Company, (BA) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements..

BA Elliott Wave technical analysis – Daily chart

On the daily chart, Boeing (BA) is currently in the downside phase of wave (C). This follows a clear three-wave corrective move in wave (B), and now wave (C) is progressing as an impulsive decline. The structure is unfolding in favor of further downside movement as the completion of this corrective structure appears to be underway.

BA Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, Boeing has likely completed wave 4 and is now entering the final leg of wave 5 of (C). Wave 3reached equality with wave 1, and the development of wave 5 is expected to extend lower, continuing the downtrend. This final leg should push the stock price down further before completing the entire correction.

Technical analyst: Alessio Barretta.

BA Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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