Home > Swing Trade of the Week > $EBAY profits, $BA at line in the sand

$EBAY profits, $BA at line in the sand

Terrific run up in EBAY for the last 3 days and now at significant daily resistance, scale out of long positions. You can always add to the position again, if and only if we break these levels on good volume energy candlesticks.

BA (Boeing) got crushed for a couple of weeks on the delay of that airbus. After rallying for a few days it is now resting at resistance on the daily 20 and 200SMA. It also has not filled the gap down from JUNE 23rd indicated continued institutional selling order flow.

Look for a retest of the $39.50 area and add to the position of we get through that level with some volume.

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: