Boeing dips on profit-taking - Analysis - 18-08-2016

Boeing's stock fell in the intraday levels, recording a loss of 0.21% in the last session, or 0.28 points, with traders taking profits of past short-term gains, while the stock tries to gather positive momentum to help it rise again, with ongoing positive pressure from the SMA for the last 50 days period, coupled with an influx of positive signals from relative power indicators. 

Therefore we expect the stock to return higher in the coming trading, targeting the resistance of 137.16, which represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 158.83 to 102.10).