Boeing has suffered a lot, cancelled deals, unclear orders for the next 5 years, less money by governments will be spent on defense and space missions (big divisions), high expenses with max plane repairs, etc etc etc... its a long,list no doubt. Is there hope, of course, but in my view not just yet. Smarter people than me (Buffet) sold airline positions not because of what happened now but because of most likely will happen with the commercial airlines industry in the years to come, most likely a changed environment all together.
On the chart, downtrend triangle from its first peak on the 26th of march, not reaching its high Fibonacci resistance at 190 but nevertheless respectively reaching the 180 mark. Lower lows lower highs all the way until yesterday, peaked a little out the downtrend- am I alarmed, not really. It did this also before and couldn't break out. Same most likely will happen here, backing this up with a nice downtrend On Balance Volume (daily chart), as well as looking at the Money Flow, (I hiked up the sensitivity at 7 level for better viewing) every time it hits this range as seen on the arrows, it backs down and losses steam as people take profit/close losses.
On the Fibonacci retracement since it's last peak on the 26th of March, it finished underneath the 138 level. Next is the 127 level, and than 120, where getting back into the triangle, and breaking lower as it did a few days ago reaching 113 and change- this is definitely an opening for more lows in my mind.
I think trying the 94 level will happen (June-July) , strong possibility of breaking that support as well. Will be watching it closely.
On the chart, downtrend triangle from its first peak on the 26th of march, not reaching its high Fibonacci resistance at 190 but nevertheless respectively reaching the 180 mark. Lower lows lower highs all the way until yesterday, peaked a little out the downtrend- am I alarmed, not really. It did this also before and couldn't break out. Same most likely will happen here, backing this up with a nice downtrend On Balance Volume (daily chart), as well as looking at the Money Flow, (I hiked up the sensitivity at 7 level for better viewing) every time it hits this range as seen on the arrows, it backs down and losses steam as people take profit/close losses.
On the Fibonacci retracement since it's last peak on the 26th of March, it finished underneath the 138 level. Next is the 127 level, and than 120, where getting back into the triangle, and breaking lower as it did a few days ago reaching 113 and change- this is definitely an opening for more lows in my mind.
I think trying the 94 level will happen (June-July) , strong possibility of breaking that support as well. Will be watching it closely.