Boeing, which was a leader of the DOW on the way up, is also leading the way down in dramatic fashion. To put it into perspective how bad this had been, the two horizontal blue lines represent the two 737 crashes, and after the March crash all 737 Max planes were grounded; afterwards Boeing started to trend down, making lower highs and lower lows. The red horizontal line is when WHO deemed this Corona virus "COVID-19" and since then its been nothing but bad news.
Taking a look back in time at the 2001 dot com crash and 2008 financial crisis, both had similar retraces, but over a much longer period of time. The retrace we are experiencing now is much more aggressive than the other two; last week we had 224 million shares sold, by far the most volume this stock as ever seen.
Going forward, I expect more volatility, but I'll probably be looking to DCA into this company once it falls to the .618 fib at around $60. They're a company that's "too big to fail" if you will. BA accounts for 2% of total US GDP alone, employee ~161k people, have multiple defense contracts, and is a poster child of America.
Going forward, I expect more volatility, but I'll probably be looking to DCA into this company once it falls to the .618 fib at around $60. They're a company that's "too big to fail" if you will. BA accounts for 2% of total US GDP alone, employee ~161k people, have multiple defense contracts, and is a poster child of America.