$BA - RC -
Added 2023-09-30 11:34:40 +0000 UTCBoeing has pulled back with a lot of stocks since the first week of August and in line with airline stocks too....in spite of its first earnings beat in 2 years.
Subwave 5 was not particularly long but still valid and we are in an ABC corrective pull back now for Wave 3.
I think there is still more to go to this pull back and fans of $BA should be watching between the 0.5 - 0.618 Fib for Wave C to complete before going higher.
$BA is a slow mover and is a market leader with Airbus, they are not going anywhere and have orders for aircrafts for the next 10 years...aircraft scarcity is a an issue for airlines at the moment, they can not receive them fast enough which is a good situation for a manufacturer to be in.
Also Boeing and Airbus have been working on building hydrogen powered engines which will drastically help airlines lower their costs and vulnerability to fluctuating oil costs.
If they are both successful, this will drive sales even further and airlines will want to update their fleets.
So waiting for Wave C to pull back further and adding or starting a position then is a strong buy.
