BA - still climbing with the main market

With US equities remaining within the broad upward trend from the Feb'11th low, Boeing (BA) saw notable strength, settling +1.5% @ $122.90. There is clear gap zone resistance of 122/127. Sustained action >127 looks very difficult. On renewed weakness into the spring... first core target is the $102/100 zone.


BA, daily

BA, monthly

Summary

BA is indeed merely trading with the broader market, but is seeing stronger percentage moves, having climbed a powerful 20% in barely 4 weeks.

If the sp'1600s this late spring/summer, BA should at least cool lower to around $100.

Seen on the bigger monthly chart, the 75/74 zone looks a valid target, but that is indeed a long way down.