@Kiamich is correct (thanks) and to add to my previous reply, I just dragged the line there & really didn’t work hard at zeroing out the exact level although I did place it where I believe the most significant support level is (again + or – due to the previous reaction lows slightly above & below that level).

Sometimes I do add “hard” support & resistance levels to my charts, doing so when a security has numerous reactions right off that level or at least the majority of the reactions being very close to it.

317 isn’t what I call a “hard” support level as BA has reversed just above & below that level on several occasions in recent years. I place that line there as it catches most of the reactions. In fact, I even referred to it as the “320ish” support level in the post above.

Also, consider that 3 points on a $330 stock (which is where BA is trading right now) is less than 1%. My point is not to try to zero down key support & resistance levels on a $300+ stock down to the nearest penny or even the nearest dollar but rather list those as approximate levels.

Finally & most importantly, as BA has made several brief dips below 320 since entering this trading range back around the start of 2018 (i.e.- whipsaw signals), you want to give the stock the benefit of the doubt if/when taking a short position, should BA break down below the range. As such, I think a SOLID red candle and/or daily close below 317 will significantly help reduce the chances of shorting BA only to see the stock snap back up within the range & go on to stop the trade out. Another consideration is that as a key component of the SPX & DJIA, it would IMMENSELY help support the case for a swing short on BA, assuming a sell signal is triggered if we also get some decent sell signals on the daily & weekly charts of the major stock indices that indicate they will likely fall 10% or more.

Of course. That goes without saying. But Randy has this specific level of 317.32, and I’m wondering where that number came from. It seems to me the number to watch for a breakdown is 320.

0.50 (difference between your 316.50 and Randy’s 317.00) is only a 0.16% difference. Not much, especially on a $329 stock.