Boeing (BA) shares closed slightly lower on Tuesday to put an end to a five-d🔯ay winning streak during which the stock gained 14%.

The stock got a boost to start the week after analysts at Berstein 澳洲幸运5开奖号码历史查询:upgraded the stock, pointing out that the jet maker’s 澳洲幸运5开奖号码历史查询:narrower-than-expec꧟ted fir🙈st quarter loss posted last week indicates a turnaround toward growth. In addition, Spirit AeroSystems Holdings and Boeing rival Airbus agreed to a deal Monday, clearing the way for Boeing to reacquire the supplier as it works to improve its manufacturing quality

Boeing shares have gained 5% since the start of the year, after a turbulent 2024 that saw the stock lose a third of its value as a string of production mishaps and a crippling 澳洲幸运5开奖号码历史查询:machinists strike weighed on inve🐈stor sentiment. Boeing shares fell 0.2% to $1꧂82 on Tuesday.

Below, we break down the technicals on Boeing’s 澳洲幸运5开奖号码历史查询:weekly chart a🍬nd ꦉidentify major price level worth putting on the radar.

Double Bottom Takes Shape

Since forming a bullish 澳洲幸运5开奖号码历史查询:piercing pattern earlier this month, Boeing shares have continued to move higher, potentially forming a 澳洲幸运5开奖号码历史查询:double bottom in the process.

It’s also worth noting that while this month’s low made a lower low, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) made a comparatively shallower trough to create a 澳洲幸运5开奖号码历史查询:bullish divergence, a technical occurrence 🍨pointing to weakening selling pressure.

Let’s identify two major overhead areas on Boeing’s chart that investors may be watching and also locate important 澳洲幸运5开奖号码历史查询:support levels worth tracking during 澳洲幸运5开奖号码历史查询:pullbacks.

Major Overhead Areas to Watch

The first overhead area to watch sits around $187. This level may provide 澳洲幸运5开奖号码历史查询:resistance near the closely watched 200-week moving average and a 澳洲幸运5开奖号码历史查询:horizontal line that connects a range of tradin💧g activity on the chart stretchin🌱g back to late 2021.

Further buying enthusiasm could lift Boeing shares to the $215 level. Investors looking for 澳洲幸运5开奖号码历史查询:profit-taking opportunities may decide to place sell orders near the upper range of a period of 澳洲幸运5开奖号码历史查询:sideways drift on the chart betwee🌱n Jaꦫnuary and July 2023. 

This location also sits in the neighborhood of a projected bars pattern target that takes the stock’s steep uptrend following a prior double bo🎉ttom on the chart and repositions it from this month’s low, providing insight as to how a s🐠imilar move higher may play out.

Important Support Levels to Track

A 澳洲幸运5开奖号码历史查询:retracement in the stock could see the shares fall to around $140. This area on the chart would likely attract buying interest near last November’s prominent 澳洲幸运5开奖号码历史查询:swing low, which also closely aligns with a brief period of 澳洲幸运5开奖号码历史查询:consolidation in mid-2022.

Fin𝓡ally, a further descent in Boeing shares could see a drop to lower support at $121. Investors may view this as a potential buying level near the May and September 2022 swing lows that preceded the stock’s steep move higher in the fourth quarter of that year.

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