Stock of the day: Boeing

Boeing is currently shaping an inverse head and shoulders pattern, clearly marked with a red rectangle. What makes this formation even more significant is its location—it’s developing directly on a major support level: the blue uptrend line that has been connecting higher lows since 2020.

The right shoulder of the pattern has recently bounced off this uptrend line, which adds further credibility to the support and the potential strength of this reversal formation.

Now, all eyes are on the neckline, highlighted in green. A weekly close above this neckline would confirm the inverse head and shoulders pattern and activate a strong, long-term buy signal for Boeing. This setup is worth watching closely in the coming sessions.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-boeing-20