Since their sharp decline in March, shares of Boeing (BA) shares have been buffeted by fundamental wake turbulence.
But despite the continuing developments in the Boeing 737 Max investigation, the stock has been moving in well-defined ranges.
For example, the lower end of the unfilled March gap lower is acting as resistance. It is also, intersecting with the flattening 50 day moving average. While the lower end of the January gap higher is acting as support, and has been successfully retested several times. It is intersecting with the 200 day moving average.
Within this large channel is the April gap lower and its lower end in the $380 area is also acting as resistance. It is being tested in today’s session.