Boeing Could Be Losing AltitudeBoeing rallied in July, but now it could be losing altitude.
The main pattern on today’s chart is the trendline running along the highs of mid-January and mid-February. The latest rebound saw prices revisit -- but not break -- this line.
Second is the April 11 low of $173.40. BA tested that level in mid-August before rolling over. Has old support become new resistance?
MACD has also been falling in the last two weeks, which could suggest momentum is slowing.
Finally, Bollinger Bands Width recently narrowed to the tightest reading of the year. That volatility squeeze may create the potential for price expansion if it the current tight range gives way.
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