Boeing tries to garner positive momentum - Analysis - 21-10-2016

Boeing's stock fell in the intraday levels, registering a loss of 0.25% in the last session, or 0.34 points, as the stock tries to gather positive momentum to help it rise again, while settling above the support of 132.06, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 150.59 to 102.10), with positive support from the SMA for the last 50 days period.

Therefore we expect the stock to return higher in the coming trading, targeting the resistance of 139.14, which represents the ratio 78.6% of the same retracement levels, as long as the support of 132.06.