Boeing turns gains into losses - Analysis - 11-05-2021

Boeing's stock (BA) rose to an intraday high at 240.94, bouncing off it lower and marking a 1.08% loss, after touching the resistance of the 509-day SMA, amid the dominance of the downward correctional short-term trend, while hurt by piercing the upward trend line recently, as the stock vented off oversold saturation in the RSI in the RSI fully. 

Therefore we expect more losses for the stock, targeting the first support at 222.30, provided the resistance of 242.35 holds on.

Expected trend for today: Bearish