NYSE:BA Boeing Gap Fill 50% Retracement on the weekly chart. In technical analysis, the term "Boeing Gap Fill" refers to a situation where the price of Boeing's stock retraces or fills a gap that occurred in the past on its weekly chart. Specifically, the focus here is on a 50% retracement.
A gap occurs when the price of an asset moves sharply up or down, creating a noticeable empty space or gap on the chart. In this context, the analysis is centered on Boeing's stock, and the goal is to observe how the price retraces approximately 50% of the previous gap movement on the weekly chart.
Traders and analysts often use retracement levels, such as 50%, as potential points of interest for market reversals or continuation of trends. The interpretation of a 50% retracement would suggest that half of the initial gap has been filled, and traders may assess this level for potential support or resistance.
Please note that specific technical analysis tools and indicators can be used to further analyze and confirm potential trading decisions based on the observed Boeing Gap Fill and 50% retracement on the weekly chart.
I would not start a position here. There are two support levels: the green line, which represents gap fill and a 50% Fibonacci retracement, and the purple line, which indicates a double bottom at the .618 Fibonacci level. The purple line is a great level to start or add to a position.