BA stock price respects channel support.

BA stock price has reached the lower channel support at $212 and is bouncing once again. Price is still inside the upside sloping channel created since March 2020 lows. Price so far respects the boundaries of the channel and the fact that price is bouncing once again from the lower boundary, confirms the importance of this support.

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Green lines- bullish channel

BA stock price has potential to make another move higher towards $241 and higher as long as price is above $212. A break below $212 will be a bearish sign and will make us turn bearish BA stock. If $212 fails to hold, then we expect BA stock price to move lower towards $175-$155. If bulls manage to push price above $241, then we should expect BA price to continue higher towards $280-$300.

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

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