Current trend

Shares of The Boeing Co., one of the largest manufacturers of aviation and space technology, are adjusting at 155.00.

The company continues to try to convince the staff of its enterprises to end the protests that began on September 13, which already has more than 32.0 thousand participating employees throughout the United States. The unauthorized strike has already caused serious damage to The Boeing Co., as production of aircraft, including the most popular Boeing 737 MAX model, has been completely stopped. Partner companies such as Spirit AeroSystems Holdings Inc., which manufactures fuselages, plan to send their employees on an unplanned vacation if an agreement with them fails.

Statistics released this month show that orders for commercial aircraft and spare parts fell by 7.5% in September, and The Boeing Co.'s own orders for new planes include only 22 applications, compared with 72 applications in July. This could be influenced, in particular, by the decision of the US Senate Commerce Committee, which ordered the company to solve safety problems before increasing production of new aircraft.

Support and resistance

On the D1 chart, the asset is trading below the support line of the ascending channel with the boundaries of 200.00–160.00.

Technical indicators hold the sell signal, which has begun to strengthen: the range of fluctuations of the EMAs on the Alligator indicator remains quite wide, and the AO histogram forms new descending bars.

Support levels: 150.00, 126.00.

Resistance levels: 159.70, 179.70.

Trading tips

If the asset continues to decline and the price consolidates below the local minimum of 150.00, one can open short positions with a target of 126.00 and a stop-loss of 160.00. Implementation period: 7 days and more.

In case of continued growth of the asset, as well as price consolidation above the local maximum of 159.70, long positions with a target of 179.70 and a stop-loss of 155.00 will be relevant.