Stocks

Boeing dominated by downward correctional wave - Analysis - 18-04-2019

2019-04-18 13:39:39 GMT (Economies.com)

Boeing's stock suffered from negative pressure from the 50-day SMA while settling below the resistance of 387.36, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 292.47 to 446.01), with positive signals from the RSI. 

 

Therefore we expect the stock to decline in the short term as long as the resistance of 387.36 holds on, targeting the support of 369.24, which represents the ratio 50% of the same retracement levels. 

 

Expected trend for today: Bearish  

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