Look at Boeing price action last 30 days. Now go and look at Dow jones or DIA price action last 30days.
Boeing is listed on the Dow, sometimes heavy weighted stocks mimic the moves of the ETf or index its listed under. In this case both The dow jones and Boeing had a massive run up late last fall. Since January the dow has been trading between resistance and 50sma (See link). Boeing has been trading under 215 fib resistance and 21ema.
Boeing movements without any company specific news will mimic the Dow . Today Dow close at resistance and so did Boeing. Let's see what happens tomorrow..
Overhead Boeing has a gap to close at 234.
Below 21ema Boeing has support at 195
Fib levels
High - 278.57
Low - 113.02
Boeing is listed on the Dow, sometimes heavy weighted stocks mimic the moves of the ETf or index its listed under. In this case both The dow jones and Boeing had a massive run up late last fall. Since January the dow has been trading between resistance and 50sma (See link). Boeing has been trading under 215 fib resistance and 21ema.
Boeing movements without any company specific news will mimic the Dow . Today Dow close at resistance and so did Boeing. Let's see what happens tomorrow..
Overhead Boeing has a gap to close at 234.
Below 21ema Boeing has support at 195
Fib levels
High - 278.57
Low - 113.02
