Check out the short term Elliott Wave View in Boeing (BA) as we see a rally from 10.27.2023 low currently in progress as a 5 waves impulse. If you’re wondering how we got here, let’s break it down: Up from 10.27.2023 low, wave 1 ended at 197.14 and pullback in wave 2 ended at 189.57. The stock then resumed higher in wave 3. Moving up from wave 2, wave ((i)) ended at 211.09 and pullback in wave ((ii)) ended at 204.81. Boeing then extended higher in wave ((iii)) towards 239.23 and dips in wave ((iv)) ended at 230. Final leg wave ((v)) higher ended at 267.54 which completed wave 3. Want to see it for yourself? Take a look at the 30 minutes chart below to see the rally from wave ((iv)).
Now, let’s talk about what’s next. Wave 4 pullback is proposed to be complete at 257.68. The internal subdivision of wave 4 unfolded as a double three Elliott Wave structure. More in-depth, down from wave 3, wave (a) ended at 260.19 and wave (b) ended at 262.84. Then, wave (c) of ((w)) ended at 259.12. Rally in wave ((x)) ended at 264.66. The movement continued and wave ((y)) lower ended at 257.68. If we look further into the internal subdivision of wave ((y)), it unfolded as a zigzag structure. This took us down from wave ((x)), where wave (a) ended at 260.42 and wave (b) ended at 262.51. Ultimately, wave (c) lower ended at 257.68 which completed wave ((y)) of 4. The outlook? Near term, as long as the pivot at 230.01 low remains intact, we can expect dips to find support in 3, 7, or 11 swing for further upside.
Still curious? Check out the 30 minutes Elliott Wave chart for Boeing (BA) by clicking the image below:
For some additional insight, take a look at the BA Elliott Wave video here:
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