Full thrust for BA shares

LAST October, when shares were trading at just 211p, this column forecast the imminent soar in British Airways share price. Less than four months later the stock is trading at 325p, that's more than a 50% gain.

But what does the future hold for this technical success story?

British Airways, the self-styled 'world's favourite airline', is going from strength to strength and has this week made new two-year and four-month highs.

Not only has the stock been consistently rising in a clearly defined up-trend channel since March 2003 - and also outperformed the FTSE 100 index - last week it also broke above this year's previous high of 314p and is trading at 325p today, indicating that the current rally is to continue in the days ahead.

Since the end of January, BA has been consolidating between 314p and 278p before trading above it on Friday and Monday. The break above 305p gave another buy signal and the stock is now targeting 345p.

This will provide traders and investors with an opportunity to take considerable profits. However, from a technical perspective, BA looks in a good position to make even more headway, with initial medium term projections of 400p.