Boeing Flies Into Resistance
City Index | May 22, 2019 04:52AM ET
Despite trading over 11% higher year to date, Boeing (NYSE:BA) has depreciated nearly 14% these past three months, so it shouldn’t come as much of a surprise it has significantly underperformed the S&P500 and industrials sector. And the bearish trend structure suggests there could be further downside to come.
Bearish momentum since the March high has been predominantly bearish and two lower highs were seen ahead of its break below 361. Now its retraced towards this key level, if the 361 area holds, we’re waiting for bearish momentum to return to signal it could be headed lower. Matt Simpson takes a technical look.
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.