The Boeing Company appears to have established a long-term bottom with Cycle wave IV now likely complete. The current structure suggests the initiation of Primary wave (1), with wave 1 unfolding upward. Key resistance is expected near TradingLevel2 at $200, which may align with the top of wave 1 and trigger a corrective phase before further gains.

BA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {v} of 1.

Direction: Upside in wave {v}.

Details:

On the 1-hour chart, Boeing is completing wave {v} of Minor wave 1. The current formation suggests at least one final upward leg is pending to complete wave (v). A move above recent highs would validate this wave count and may confirm short-term bullish momentum as the structure nears resistance.

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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