Emirates Airlines announced a $52 billion order for 95 widebody jets of a variety of designs and the stock (BA) jumped today.
Is the stock a buy at this point?
Although the daily chart looks strong, more strength is needed on the weekly time frame to justify purchases – especially as a purchase today is about 5% higher than yesterday.
Here is a look at the weekly chart, when the price gets above the overhead resistance at about 220 or so, the longer term risk will be much less.
Selling volume during the prior two months of trading increased sharply and has not yet recovered.
Watch the stock lists on this site for alerts that a lower-risk uptrend has developed in BA.
