Hubert Senters here.
Let’s take a look at Boeing, BA. I have a question from a viewer.
“I’m long Boeing in the mid $290s. Where do you think my stop placements should be?”
Well, that’s a good question. So first and foremost what you want to do is you want to know what your stop is FIRST before you execute the trade. You’re doing a little bit backwards but tons of people do that.
But my first piece of advice would be always know what your risk is first and your reward second.
So, we are going to make the assumption that you said mid $290’s, so I’m going to say $296.
If you’re long $296 on Boeing here on this sideways consolidation. It’s rip in to the high side. There are two really good spots that you can use for a stop loss.
You can either use the turning line which is right now at $315.67 or you can use the standard line which is the purple line at $304.98.
Good luck. Hope this helps.
I’ll see you on the next video.
Hubert.
