Whilst the broader market saw another day of gains, there was notable weakness in Boeing (BA), which settled lower for the sixth consecutive day, -1.8% @ $128.57. Near term outlook threatens increasing downward pressure to the 122/121 zone where the 200dma is lurking.
*obviously depressing news for the Boeing workforce, as at least 4000 are set to be dismissed.
Considering the strength in the main market, BA sure is struggling, but then, since the Feb' low of $102, its seen a hyper ramp to $136.
The giant monthly chart tells the story of a Dow'30 component that looks tired.
If the broader market rolls lower again into the early summer, then the $102 low will be primary target. Secondary is the 75/74s, but clearly, that is an extremely long way down.
*currently no position, but will consider shorting in April.. with an outlook to hold short across May/June.