the daily chartist

Boeing drops the landing gear

published 2 months ago

Boeing has been trying to recover after the air industry was smacked to the ground by the pandemic. Since then, the results weren't expected to cover the forecasts of course, so the only current rise in the stock price is because of the pull form the broader market.

Ignore the stats since they are heavily affected by the COVID-19 crisis. Recent days we see red volumes - investors are covering recent profits or losses. We have a run-away gap from 09.11 to cover. Current golden cross gives some hope for the formation of a new uptrend, but before that I think we may see price going down towards the potential drop zone.

Second outplay is for the price to break out from the bullish flag and continue towards the potential target zone.

In both cases I would wait and see how what direction the price will take.