Boeing (US: BA) exhibited a strong upside late May, with prices breaking the US$200.00 psychological resistance and reaching a high of US$234.97. Prices retraced subsequently below the resistance turned support level of US$186.48 but the recent technicals indicate that Boeing may see prices attempt to push higher.
*The technical call is valid for 2 weeks only.
* There will be a high possibility of a pullback once Boeing breaks the neckline resistance.
*Should price retrace further, the next support for a rebound will be at the support zone between US$141.69 and US$156.20.
61.8% is the golden ratio of the Fibonacci numbers and it is consider the high probability mid-way of the retracement level and 78.6% is the deep retracement level.
127.2% and 161.8% are the extension level target are often the target levels of a strong rally.
Red dotted line = 200 day period moving average
Blue dotted line = 50 day period moving average