Good question. For a while this was a great weekly tradeable stock (and it still may be),
So first I'll say, it is just as likely to bounce to $130 or so again next week (although I'm not betting on it). However, until we see a reversal of some sort, I can't think of a reason it doesn't re-test to $89 again eventually. Maybe it only gets down to $93, but it is trending down by all indications.
Of course, the key to charting, is to notice when a stock (or index or market) changes its trend. So watch for the week it actually makes a higher high from the previous week for an indicator, and if you're playing this stock for short term, I'm more of a fan of buying after the trend is broken right now (which is why I don't own any now).
If you are a long term investor on BA and looking to buy in, just admit you're a gambler and not investor. Any time you try to guess at a bottom, you're gambling. IF, you like this method, at the very least, take a small position on the way down, then take a full position on the breakout. This will have a smaller upside, but a better percentage of the time you'll be right. And isn't this what we all are really after? Or should be.
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