Courtesy of Fibozachi
…. please fasten your seat-belt and return your tray table to an upright position.
One of our daily stock scans returned an oddball pattern at the end of last week that is extremely rare and extremely interesting from a technical perspective; 4 consecutive "filled white" candles. The culprit in this instance: none other than Boeing, the big BA, which just yesterday completed an "ultimate-load wing up-bending test on the 787 Dreamliner" with "positive initial results."
While analysis of the data for the long-delayed Dreamliner will take several weeks to sift through, "the test program has been more robust than any conducted on a Boeing commercial jetliner," said Scott Fancher, Boeing vice president and general manager for the 787 program, in a press release.
In the interim, we took a few snapshots and present a technical profile for the big BA. Click on any image to view a large, crystal-clear picture.
BA Daily: Trendlines of Support & Resistance
BA Daily: Fibo Time Cycles
BA: Daily Gap Fill
BA Weekly: Support & Resistance
After a quick look at the airline sector, Continental Airlines (CAL) stood out as another utterly fugly issue ripe for reversal.
CAL Daily
CAL Daily: Fibonacci SMAs
CAL Daily: Fibonacci EMAs
Brings a classic broker joke to mind:
"when is it a good time to sell airline stocks …. when the stock market is open."
Disclosure: no position in the securities mentioned at the time of publication. During any given session, we may trade any instrument bi-directionally.
For similar technical calls and insights into the idiosyncratic machinations of financial markets ~ check out fibozachi.com.
There, you can view a body of our analytic work as well as detailed explanations of the unique design development and technical methodologies within the proprietary technical indicator packages that we employ daily to perform a comprehensive technical analysis of financial instruments (stocks, options, ETFs, bonds, futures, FOREX, etc.) across interval periods of time, tick and volume.
