Thanks for your input, Randy. It’s always appreciated.

The reason I think this time around it is a topping pattern are all the reasons I was looking for a major top just before BA peaked last year (the technical case that was made). Based on the fact I was using not just the daily but also the weekly time frame, that paves the way for a major trend reversal, i.e. bull market to bear market, which technically, BA is now in although putting aside the “20% drop off the highs= bear market” standard definition, a quick glance at the longer-term charts shows BA in a secular bull market but with the strong divergences and bearish technical developments/price action over the past year, it appears to me that the stock is quite likely in the final stages of putting in a major top. Time may prove me wrong & first things first, which is BA earnings next Wed before the market opens. Let’s see where the stock goes from there.

Thx for pointing that out. Here’s my MCD daily chart with the stock rallying into & reversing (so far) off the 214.30 R level. They report along with BA next Wed before the market opens so one to watch. Aggressive traders might even opt to short it here at resistance as an earnings play with a swing target of the intersecting 190 + uptrend line support level. Thx again!

I hadn’t looked into the fundamentals of BA but I do follow the headlines & the trend of developments since the first 737 Max crash hasn’t been positive. BA tried to regain that 317ish support today but was smacked back down below it & will likely close the week on or below it. The stock will likely flounder around until next Wed when they report before the market opens so one to watch. Thx for the fundamental details.

Check out McDonalds. Same story: Negative equity, 100% of the profits went into stock buybacks and dividend payouts while the negative equity continues to increase. A hollow company that should technically be bankrupt any is only being kept afloat by the positive cashflow.

How would you define the difference between a topping pattern and a trading range that has a shakeout? Certainly in the previous trading range there was a top for a while, But it wan’t really a significant top the way it appears to me (Maybe I’m just expecting more drama than I should in my topping expectations). I see it as more of a long pause in the uptrend while the price consolidated.

Do you think the end to this trading range will be very different from the previous one?

Thanks,
Chris

Good fundamental stuff Kostner. I too believe this will have to be bailed out. In a normal market devoid of all this free liquidity I believe this would be much lower. The fact they have bought back $43Bn is pretty disgusting stuff especially as that money has been at the expense of peoples lives. The ex CEO walks with $62M pay packet? Dividends wont be cut? This is crazy stuff.