Boeing confirms breach of upside trend line - Analysis - 16-08-2018

Boeing's stock sharpened its decline in the short term, marking a new loss of 2.18% in the last session, or 7.38 points, and confirming the breach of the main upward medium-term trend line, with negative pressure from the 50-day SMA, while the RSI reached extremely oversold levels. 

Therefore we expect more losses for the stock, targeting the support of 319.25, as long as it settles below the resistance of 347.67.