Boeing formed a very strong buy signal (at least to me). It’s known as capitulation – where all the buyers finally gave up and sold their remaining shares. You can see this by looking at the massive volume spike and hammer like candle that was formed.
I was looking at the price during this time and thought to myself, “If this thing doesn’t crash 10% more from this price within the next 10 minutes, it would be very bullish.”
Boeing proceeds to snap back a large amount of its losses and rallies to the ~115-125 zone off the 102 low. As I’m typing this out, the stock just moved from 119 to 123 in a few minutes. Nice and volatile.
Anyways, below is the 30 minute chart of what is a super obvious buy signal to me.