BOEING Key Decision Level
Despite the ongoing 737 Max issues and a decimated customer base, Boeing (BA) has already rallied back to $200 from below $90. Sure, the stock has a 52-week high near $400, but the airline no longer has any new commercial passenger jet orders after seeing their backlog as constrained due to production limits.
The key investor takeaway is that Boeing has rallied despite no signs that commercial customers are in any position to order new planes. The company has already seen net debt surge to $24 billion by March due to the over production of 737 Max planes expecting re-certification by the FAA to occur far before the summer.
The most likely outcome here is pressure on the stock as 737 Max deliveries start occurring in a few months and the market gets hit with a dose of reality that the backlog will fall further.
Key Trading Plan:
i) SHORT when the price breaks the support level at 162.45 with the Take Profit point at 92.2
ii) LONG when the price breaks the resistance level at 238.59 with the Take Profit point at 318.50
The key investor takeaway is that Boeing has rallied despite no signs that commercial customers are in any position to order new planes. The company has already seen net debt surge to $24 billion by March due to the over production of 737 Max planes expecting re-certification by the FAA to occur far before the summer.
The most likely outcome here is pressure on the stock as 737 Max deliveries start occurring in a few months and the market gets hit with a dose of reality that the backlog will fall further.
Key Trading Plan:
i) SHORT when the price breaks the support level at 162.45 with the Take Profit point at 92.2
ii) LONG when the price breaks the resistance level at 238.59 with the Take Profit point at 318.50
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