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Boeing

MO BOEING UPTREND● Boeing stock price has been trading for a few months in a sideways channel with a price range of $145 to $180 primarily due to uncertainties over the Coronavirus crisis and issues with its new 737 MAX plane which has been grounded since early 2019. ● Since last week Boeing stock price started to increase after the US FAA (Federal Aviation Administration) took test 737 MAX which is considered as a final stage before getting on the license to fly again. After the test flight, FAA test pilot Steve Dickson said that he liked what he saw on the flight, and the stock price immediately reacted positively despite that the final report hasn’t been released yet. ● Expectations that the FAA will soon release a final report over Boeing 737MAX and renew license for further production of the Boeing best seller model increased investment sentiment and demand for Boeing shares on the stock market. ● Another good news for the entire airline industry came from the US where Republicans and Democrats agreed to help the airline industry with 25 billion dollars despite that the overall deal over economic aid stuck and regarding the latest information delay until the presidential elections ended. ● According to the Technical analysis, the stock price breached and managed to stay above the 20-day Moving Average, which can be considered as a first resistance level. Also, the Daily Relative Strength Index recovered from the low 30 trying to breach above level of 50. If the value of RSI manages to breach above 50 and the stock price remains above $160 the price may probably go up toward the Resistance 1 level of $181.
NYSE:BALong
by walidmektoubi