THE BOEING CO.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 156.40 |
| Take Profit | 137.50 |
| Stop Loss | 161.00 |
| Key Levels | 137.00, 155.00, 156.40, 160.00, 161.00, 162.00, 164.60, 190.00, 194.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 164.60 |
| Take Profit | 190.00 |
| Stop Loss | 155.00 |
| Key Levels | 137.00, 155.00, 156.40, 160.00, 161.00, 162.00, 164.60, 190.00, 194.00 |
The shares of The Boeing Co., one of the largest manufacturers of aviation and space equipment, are trading within a corrective trend at 160.00.
On the daily chart, the price is moving below the support line of the sideways channel 194.00–162.00, trying to leave it.
On the four-hour chart, after breaking the annual low of 161.00, the probability of a decline to 137.00 has increased. However, if 164.00 is broken backward, the quotes will return to the range and continue to grow to its upper limit of 192.00.
Technical indicators strengthen the sell signal: fast EMAs on the Alligator indicator are below the signal line, moving away from it, and the AO histogram forms correction bars below the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 156.40, with the target at 137.50. Stop loss is 161.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 164.60, with the target at 190.00. Stop loss is 155.00.
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