Leading aerospace manufacturer The Boeing
Company is trading lower again this morning. The stock has come under major distribution in 2014 after peaking out in January at $144.57 a share. Today, the Boeing
is trading lower by $2.13 to $124.58 a share. Many traders and investors are now hearing that business is slowing down for The Boeing
Company. Earlier today, the stock was downgraded by BofA/Merrill Neutral from Buy citing potential cancellations in orders and shrinking military programs. Traders and investors must now look to the charts to find important support levels where the stock could stage a bounce and create a trading opportunity. At this time, The Boeing
Company stock should have important support around the $117.75 level in the near term. This was a level where the stock broke out in October 2013
. Often, prior break-out levels will serve as important support when retested.
Chief Market Strategist