Boeing Sees a Bull Retest

The bottom pane of the chart of Boeing (BA) is our momentum indicator. It has been quite choppy this year, but yesterday we had a nice opportunity.

This is a bull retest, which is simply a pullback that delivers a low-risk entry point to get on board.

Typically, the stop out would be the low of the prior day, in this case around $186 or so. We like the low volume on this pullback. Also, the moving average convergence divergence (MACD) is still on a buy signal.

The long-term uptrend is still intact. We could see Boeing take a shot at the 200 level next.

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