Stock of the day: Boeing

Today’s focus is on Boeing, which has been showing positive momentum since the latter half of November and throughout December. December proved particularly fruitful as Boeing managed to reclaim a key resistance level at $163, marked with orange on the chart.

This level previously acted as a support in April and August but turned into resistance after being broken in September and October. In December, Boeing successfully broke back above this level, converting it into support once again.

Currently, the price is bouncing off this support, signaling that buyers remain in control. As long as Boeing stays above this $163 support, the sentiment remains bullish and the stock could aim for higher levels. However, a daily close below $163 would shift the sentiment to bearish, generating a sell signal.

Boeing’s resilience above this level keeps the long-term outlook optimistic, but vigilance is required around this key support.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-boeing-19