XM does not provide services to residents of the United States of America.

Technical Analysis – Boeing’s stock enters bullish territory; neutral in medium term



Boeing’s stock price cheered on the back of encouraging vaccine news, jumping above the 200-day simple moving average (SMA) and the 200 level for the first time since June.

The upside correction, however, was not strong enough to overcome June’s high of 233.86, keeping the stock within a neutral zone in the medium-term window.

Still, the ascending MACD and the rising RSI, which has yet to reach a peak within the overbought territory, suggest that there is scope for more improvement in the short run and a test of the 233.86 peak. The positive slope in the Ichimoku indicators is also in line with this narrative.

Should the rally stretch above that ceiling, investors may seek resistance somewhere between 260.00 and 269.20. Otherwise, a flip backwards may retest the 200-day SMA around 179.17 before the spotlight shifts to the 164.00 level, where the 20- and 50-day SMAs are currently hovering. Another leg lower could open the door for the trough of 141.43 registered in late October.

Summarizing, Boeing’s stock has resumed a bullish bias in the short-term picture, increasing optimism that the recovery could extend towards previous highs. 

Latest News

Technical Analysis – GBPJPY pulls back near uptrend line

G

G

Technical Analysis – EURUSD tests descending trend line

E

Technical Analysis – Is Visa stock set for its next bull run?

V

U

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.