Thoughts on $BA and potential range expansion
Been watching $BA closely. We closed today around 218.55, which is quite a dip from the day's high of 224.13. What's interesting is how it reacted to that 220-222 area resistance. It seems to be forming a bit of a short-term range, with the 218-219 area offering some support, at least intraday.
My thinking is that if we can't find a strong bounce here, a retest of the lower end of its recent consolidation, perhaps around 215, isn't out of the question. On the flip side, a convincing close above 222 might suggest a move towards 225-228. The risk here, in my view, is a breakdown below 218 on any sustained volume, which could open up further downside. Still early days to call any major trend, but keeping an eye on how it handles this immediate support/resistance.