Boeing Continuation? Monthly Technical Perspective

BA is not a name I typically pay attention to but I recently noticed a fairly simple monthly trade idea. Weakness caused by economic turmoil, airline delays, and a government shutdown is clearly present on the lower time frames. However, from a strictly technical perspective, this BA chart looks good on the monthly time frame if November can hold above the $190 level.

Confluences
- Strong monthly candles from April to August sparked a breakout above the MACRO downtrend that started in 2019
- It appears that a controlled monthly bull flag is forming as price retraces to the previous trend resistance channel which should now theoretically act as support
- This trend retest is occurring right around the $190 area which has acted as a key inflection level during 2020-2025 monthly range
- Price is retesting a massive volume shelf and VPOC shelf around the 190 area

Trade Idea (~5R)
- A conservative entry would wait for a monthly hold above 0.5 fib or ~$190 and the weekly 200MA to signal a December entry
- A high risk entry might scale in on the daily/weekly chart with the majority added if price wicks down into the 0.618-0.65 fib (golden pocket) which is deeper in the red resistance channel turned support. The high risk golden pocket fib entry at ~$170 would be in confluence with the center of the trend channel, the VPOC, and the monthly 200MA.
- Target previous highs at $240, $267, $280
- Look to close position after these trims into previous resistance

Thesis Is Invalidated If:
- Conservative Trader: Monthly Candle closes below $185 (tight stop)
OR
- Risky Trader: Monthly candle closes below $169 which is the golden pocket fib drawn from the April 1 lows recent swing high

Just an idea... NFA.