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BA stock price respects channel support.

In our previous analysis on BA stock price we noted that an important support level was found at $200 as we were expecting price to fall towards that level.

analytics61017fd9894fb.jpg

Red lines - bullish channel

Price is respecting the lower channel support and is now bouncing higher. The $200 price level is important support and stop level for bulls. Resistance is at $256 and breaking above it will be a bullish sign. If support at $200 fails to hold, I expect price to move even lower towards $150-$130. As long as price holds inside the bullish channel, we should expect BA stock price to move closer to the upper channel boundary.

The material has been provided by InstaForex Company - www.instaforex.com