July 24, 2019

Playing Support After Boeing Earnings

Boeing (Ticker: BA) reported a massive second-quarter loss of $2.9 billion on Wednesday — its worst ever — as costs pile up for the aerospace giant while its flagship 737 Max jet remains grounded after two fatal crashes.

Shares of Boeing declined 2% from its previous close of $373.07, helping to drag down the Dow Jones Industrial Average.

Source: CNBC

Not great news right?  But what did happen was Boeing came right down to key support at the 200-DMA.  This provides us with opportunity.

Click the video below to see our set-up.

Follow me on Twitter @MikeShorrCbot

about the author:

Mike Shorr

Since 1994, Michael has been an on-the-floor market maker, Vice-President of Interest Rate Derivatives for Knight Financial Products and Director of Education and Options Instructor at Trading Advantage. He makes the oftentimes complex world of options and trading accessible to the novice and advanced trader alike. Michael has a Bachelor of Science degree in Statistics and Finance from the University of Illinois Champaign-Urbana. He presently is Director, Trader Education at ProsperTradingAcademy.

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