Boeing Approaching Support at 362

After the revelation that the 737 Max 8 was configured to dive, Boeing’s stock price appears to be pushing towards the 371.4 Support level. Investors could consider that deliveries may be delayed and planes currently in operation are likely to return to the factory for fixes, both of which can hurt the company’s profits. At 382.73, the Resistance level appears to be moving further away, even though the last candle has been moving upwards. Stochastics and the MACD are both pointing to the downside.

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Dr Nektarios Michail

Market Analyst

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