Boeing to See Another Breakout Year in 2019, Analyst Says
Boeing stock (BA) could be headed for another great year in 2019, says Cowen & Co.
Boeing is up 15% year to date, floating above the trade war worries that have weighed on other industrials. Strong free cash flow, dividend increases, and air-travel demand all bode well for Boeing’s 2019, says Cowen.
Boeing’s strong showing this year comes after it was the best-performing stock in the Dow Jones Industrial Average in 2017 as well. And Cowen believes that it’ll do it again in 2019.
Today's Trade of the Day | 11-1-18
KO Coca Cola Co traded into a "failed test" of the 52 week high. This pattern represents one of my favorite order flow trades. When a stock makes a new 52 week high or low, then tests that level and fails, I look to start building a position in the opposite direction for a longer-term position trade.
In this case I am looking for a new short-sale to trigger on a break below $48.50. For this trade the stop loss would be on a close above the 52 week high. Trade management calls for building the position in 3 stages as the stock price moves in the intended direction of the idea.
Each new portion adds fewer shares than the previous until the total desired allocation is built.
Stock Trading Ideas Friday 11-30-18
Bullish Cash Flow: DLTR, OKTA, TNDM, ETSY, SPLK, MOS, TSRO, NFLX, NTNX, ADSK, DISCK, DBX, SFIX, TWLO
Bearish Cash Flow: aa, twtr, jwn, schw, cgc, urbn
Bullish Breakouts: DLTR, ADSK, NVS, MDT, LLY, DHR, MRK, ABT, UNH, CI, FAST, WBA, A, KEYS, A, KEYS, XLNX, BAX, MNST
Bearish Breakouts: twtr
Double Average Volume: TWTR, ANF, DLTR, AET, NCLH, AA, MXIM
Become a Better Trader. Get Notified.
Tape Reading the SPY ETF
SPY ETF 60 minute chart showing a topping tail, well offered and swing high. All short-term reversal patterns. The longer-term red line show the bearish order flow on the daily chart. The red arrow shows my target for a decline .
The $269 level shows the price I expect short-term profit-taking to reach and new buyers to step in and hold the bid (buy more shares). It's interesting to note that the short-covering rally was fueled by the FED comments on interest rates. Today we get to see if bullish traders believe it was enough to sustain the end of year rally.