Boeing ends higher - Analysis - 27-05-2016

Boeing's stock closed higher in the intraday levels, recording a gain of 0.35% in the last session, or 0.45 points, after the stock leaned on the pivotal support of 126.34, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 150.59 to 102.10), with an influx of positive signals from relative power indicators, opposed by ongoing negative pressure from the SMA for the last 50 days period. 

We expect more short-covering gains to come for the stock, targeting the resistance of 132.06, which represents the ratio 61.8% of the same retracement levels.