Current price action is BA stock is not bullish. On the contrary price is close to providing a bearish signal. Making a higher high at $223,78 and then a lower low is not a sign of strength. If price breaks below $211 then we will get a bearish signal.
Red lines - Fibonacci extension targets
BA stock price was trading at the edge of a long-term bullish channel. Inability to move towards $230 has pushed price out of the bullish channel. Moreover short-term price action is bearish as price is about to break below the $212-$211 support level. This will open the way for a move towards $194. Bulls need to push price above $224 otherwise the chances of seeing below $200 will increase dramatically.
