May 23 Chart of the Day - Booz Allen Hamilton
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Booz Allen Hamilton (BAH) met earnings expectations, but management’s guidance for the year ahead left Wall Street unimpressed. With budget cuts looming in Washington, the federal IT consulting giant signaled softer growth ahead sending the stock down roughly 17 percent today.
While long-term demand for Booz Allen’s expertise in cybersecurity, artificial intelligence, and data analytics remains strong, traders should brace for continued volatility as government spending tightens. Watch how the stock behaves at key support levels—signs of accumulation could indicate the worst is getting priced in.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 500+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.
Monthly Chart
On the monthly chart we can see that after setting its $190.59 all time high last year price fell dramatically, bounced like a dead cat, and has since faded back to the downside the past month.
The $100 area seemingly is the line in the sand for the bulls to remain above.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, we can see with much more clarity the volatile cycles up and down while price is currently heading back down again.
Most recently price was firmly rejected around $130 dashing investor hopes for a continued run back to the upside.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
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