.

Swing Trade Idea (BA) – December 07, 2023

Our bearish trade for Thursday, December 6th is Boeing Co. (BA). BA is part of the Industrial Sector, which has performed at 2.41% over the last week, with BA overperforming relative to its sector at 5.55% over the same period.

BA has been extremely bullish over the last few weeks and traded into an area of resistance around $240. As equities are starting to pull back, we believe that BA will follow suit and trade in unison with the Industrial sector which is also pulling back from an area of resistance.

As a close, if BA were to trade above $240 for multiple days, this would invalidate our analysis, and will consider cutting losses on the trade. We also want to consider cutting losses on this options trade if the value of the vertical spread moves below $2.80.