Wednesday, November 25, 2015
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,862 Blog Posts

The Dreamliner VIP Diamond Club

After months on end of teetering on a major breakdown, Boeing bulls are back above the turbulent clouds threatening a major breakout.

The first chart below is of the weekly timeframe, indicating a long diamond consolidation after the initial snapback rally off the 2009 bear market bottom into 2010. In this context, the diamond is not really a topping pattern as it is a tedious sideways grind. The second chart zooms into the daily timeframe, where we can see Boeing attempting to clear the upper righthand side of the diamond for a significant breakout.

Clearing $76 and then $78 on a weekly closing basis for a run back to all-time highs at $107.83 from 2007.



Email this to someonePrint this page
If you enjoy the content at iBankCoin, please like our Facebook page