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.

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One Response to “The Dreamliner VIP Diamond Club”

  1. [...] Boeing Dreamliners being currently grounded for battery checks after a string of incidents, as I wrote a while back the monthly chart for Boeing is till indicating long-term breakout [...]

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Previous Posts by chessNwine

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.

___________________________

___________________________

One Response to “The Dreamliner VIP Diamond Club”

  1. [...] Boeing Dreamliners being currently grounded for battery checks after a string of incidents, as I wrote a while back the monthly chart for Boeing is till indicating long-term breakout [...]

Comments are closed.