BA has been making since January higher highs and higher lows after the COVID-19 crash of 2019. Price has formed a bullish channel for the entire 2020 and still remains inside it. However from the start of 2021 price has stopped making higher highs and shows reversal signals.
Green lines - bullish channel
Price has made a lower high in the beginning of June and price is sliding lower since then. Price seems vulnerable to a move towards the lower channel boundary around the $200 price level. We consider this to be an important support. A shorter-term support is found at $219. Breaking below this level will increase dramatically the chances of seeing $200 again. Resistance remains key at the June high of $258. Breaking above this level would be a bullish signal and could push price towards the upper channel boundary.
