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BA Still Green Despite Guilty Plea

Written By: ChartChamp

July 8, 2024

Yesterday evening we received news that Boeing pled guilty to criminal fraud. I expected the price to be red today from this bearish news. Surprisingly BA is green and up +3% so far today. BA is holding above the green support level, and I have the two white resistance lines as key resistance targets to monitor on the way up. I am personally interested in buying BA around the yellow trendline. I think this will take some patience, but the yellow trendline has been the best level for buying BA. We took a nice BA trade in 2023 that led to a strong multi-month rally before all the negative news started coming out.

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