Boeing Approaching Critical Support: Will $150 Hold or Break?
Hey fellow traders,
Boeing (
BA) is facing some turbulent times both fundamentally and technically, and all eyes are on the charts to see what happens next. Let’s break it down.
After a series of tough news — including a machinist strike and warnings about a potential credit downgrade — Boeing has seen a sharp drop, falling nearly 4% on Friday alone. This brings the stock down to $156.77, close to a two-year low. But that’s not the full story; we’re approaching a pivotal level that could make or break Boeing’s near-term future.
What’s Happening on the Charts?
Downtrend Dominance: Boeing’s been in a consistent downtrend, with a well-established trendline that’s been pushing the price lower for some time now. Each time the stock tries to break through, it’s met with resistance. We’re getting close to testing that support again.
$150 Key Support: The price is closing in on $150 — a level that’s acted as a strong support in the past. This is the line in the sand, and a lot of traders are watching closely. Will it hold, or are we headed for further downside?
Possible Scenarios Ahead
Bullish Case: If Boeing finds support at $150, we could see a short-term bounce. The next logical target would be back to the $170-$175 range, which lines up with that downward trendline.
Bearish Case: On the flip side, if $150 breaks, things could get ugly. Given the current sentiment, we might be looking at a sharper drop, with $130 as the next potential support area.
Volume Will Tell the Story
One thing to keep an eye on is volume. If we start seeing increased selling pressure, it would confirm the bears are in control. Right now, the fundamentals (negative news, cash burn, strike) are aligning with the technicals — a dangerous combination.
Final Thoughts Here
Whether you’re bullish or bearish, the next few days could provide some interesting opportunities. If $150 holds, we might see some relief, but if it breaks, it could signal much bigger downside potential. Let me know what you think! Will Boeing bounce or break?
Boeing (
BA) is facing some turbulent times both fundamentally and technically, and all eyes are on the charts to see what happens next. Let’s break it down.After a series of tough news — including a machinist strike and warnings about a potential credit downgrade — Boeing has seen a sharp drop, falling nearly 4% on Friday alone. This brings the stock down to $156.77, close to a two-year low. But that’s not the full story; we’re approaching a pivotal level that could make or break Boeing’s near-term future.
What’s Happening on the Charts?
Downtrend Dominance: Boeing’s been in a consistent downtrend, with a well-established trendline that’s been pushing the price lower for some time now. Each time the stock tries to break through, it’s met with resistance. We’re getting close to testing that support again.
$150 Key Support: The price is closing in on $150 — a level that’s acted as a strong support in the past. This is the line in the sand, and a lot of traders are watching closely. Will it hold, or are we headed for further downside?
Possible Scenarios Ahead
Bullish Case: If Boeing finds support at $150, we could see a short-term bounce. The next logical target would be back to the $170-$175 range, which lines up with that downward trendline.
Bearish Case: On the flip side, if $150 breaks, things could get ugly. Given the current sentiment, we might be looking at a sharper drop, with $130 as the next potential support area.
Volume Will Tell the Story
One thing to keep an eye on is volume. If we start seeing increased selling pressure, it would confirm the bears are in control. Right now, the fundamentals (negative news, cash burn, strike) are aligning with the technicals — a dangerous combination.
Final Thoughts Here
Whether you’re bullish or bearish, the next few days could provide some interesting opportunities. If $150 holds, we might see some relief, but if it breaks, it could signal much bigger downside potential. Let me know what you think! Will Boeing bounce or break?
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