Difficult chart to do the analysis. However, at a high timeframe like monthly, it is a bit easier. It seems there is a big monthly resistance sitting just 15% above the current price. That resistance is a zone 238-243.
There is higher probability that if price moves higher from here, it will stall in that range and probably face a rejection there for a pullback....
Boeing is in an interesting position here setting up for a nice break of the downtrend into a long if this all plays out.
We expect the downtrend to break and as soon as a close above the resistance is made we can long until the target!
Always be patient and wait for confirmation, Happy Trading!
G'day Guys
Boeing been in the market for sometime and until now still consistently produce and improve. That the reason this stocks keep consistent.
After sudden drop during the MAX case, but consistency, responsibility and demand keep this stocks build up.
From my perspective this stocks stable stock. Here my analysis on this pair. Expecting another push high...
