11.02.202215:12 Forex Analysis & Reviews: BA stock price challenges bearish channel boundaries.

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BA stock price has been sliding lower since March of 2021 when it was trading around $272, Since then price has been making lower lows and lower highs inside a downward sloping channel. Price has now reached as low as $185 almost three times producing a key support level.

Blue lines- bearish channel

Red line- horizontal support

BA stock price has almost created a triple bottom around $185. After testing the red support line for the third time, BA stock price bounced strongly higher towards $223. Price is now challenging the upper channel boundary which is key resistance. Since March of 2021 price has been making lower lows and lower highs. There is no confirmation of a major reversal, but a break above the bearish channel would certainly be the first step towards that direction.

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