Following up from our last BA stock price analysis when price initially got rejected at the upper channel boundary, we see that price remains trapped inside the bearish channel, confirming the importance of the resistance around $222-$225.
Red line - horizontal support
BA stock price has formed a lower high and is about to form lower lows. The inability to break above the upper channel boundary is a sign of weakness or a sign that tells us that this is not the time move higher. Price is vulnerable to another pull back. Bulls do not want to see price break below the red horizontal support level. This could be a sign of more weakness to come.
