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BA Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave 1 of (1).
Direction: Upside in wave 1.
Details:
The Boeing Company appears to have established a long-term bottom with Cycle wave IV now likely complete. The current structure suggests the initiation of Primary wave (1), with wave 1 unfolding upward. Key resistance is expected near TradingLevel2 at $200, which may align with the top of wave 1 and trigger a corrective phase before further gains.
BA Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {v} of 1.
Direction: Upside in wave {v}.
Details:
On the 1-hour chart, Boeing is completing wave {v} of Minor wave 1. The current formation suggests at least one final upward leg is pending to complete wave (v). A move above recent highs would validate this wave count and may confirm short-term bullish momentum as the structure nears resistance.
Technical analyst: Alessio Barretta.