Watch These Boeing Price Levels as Stock Faces US-China Trade War Turbulence

Boeing (BA) shares remained in focus on Wednesday as investors digested yesterday’s reports that China had asked its airlines not to do much delivery of American company jets amidst the trade war between Washington and Beijing.

This development aircraft adds to a difficult 12 months to stock the manufacturer, which has struggled to gain investors’s confidence after many highly promoted safety and manufacturing accidents, complicated by the strike of seven -week machineists, all of which have weakened the company’s balance sheet.

Boeing’s shares were up to $ 157.50 at 1.3% in trading in mid -Wednesday. Stock has lost about 11% of its value since the beginning of the year.

Below, we break the technology on the boeing chart and indicate significant value levels that investors are looking.

Possible double bottom

Tariff-operated sales in Boeing shares saw temporarily decline under the major November swing last week, before a potentially rebounding above that level was made a double bottom.

Recently, the stock has been swept away mostly since last Wednesday’s widespread day, providing a reading below 50 boundaries to indicate neutral value speed with the relative power index (RSI).

Let’s identify significant support and resistance levels on the chart of Boeing and estimate a measured trick price target for putting on the radar.

Important support level to see

The first support area of ​​view sits around $ 146. At this stage a retracement can attract purchases near a trendline that combines a series of comparable trading activity on the chart by mid -April last year.

A close shares below this level can see low support at $ 137. Investors will probably keep a close near November and April troughs that make a potential double bottom.

Important resistance level for surveillance

A tailwind from existing levels may see that shares initially climb up to $ 166. The location provides a confluence of overhead resistance near the 200-day moving averages and is a range of swinging developed on the chart between April 2024 and January this year.

Also upside down may take a step around $ 187. The stocks can face headwind in the region near several peaks on the chart from last May to February.

Tail measured to put on radar

Investors can predict an inverted target using measured gait technology, also known as the principle of measuring chart watches.

When applied to the Boeing chart, we calculate the distance of the double bottom in the digits and add that amount to the neckline of the pattern. For example, we add $ 50 to $ 187, a target of more than 52% $ 237 from Tuesday’s closing price.

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As this article was written, the author has none of the above securities.