I saw Boeing's stock plummet like a stone. A plane fell from the sky today, and landed directly on the charts.
Well, Boeing did not achieve the desired results. I talked about this yesterday on the weekly timeframe. Boeing did not achieve the desired results.
Speaking of bounces, this stock hasn't had one, guys. Oh, my God. Look here at Boeing (BA) stock. This stock was forming four long tails on the weekly timeframe. When I appeared yesterday, I said, "Guys, this is extremely rare.
I don't usually see this on the weekly timeframe. I see it on the daily timeframe quite frequently, which usually leads to a large upward move on the charts." But we are not seeing that today with Boeing.
Boeing, as you can see on the 10-minute timeframe, came out and announced its earnings here mid-morning, which led to a significant drop as the price fell below the $170 mark and is now trading in post-closing trading at $167.90.
So, where is Boeing headed, guys? All you have to do is go back to the larger timeframe, I'll zoom out on the charts and convert them to the weekly timeframe to illustrate this parallel range coming from the lowest levels of Covid, folks.
When we thought no one would ever travel here again at the $90 price point. Okay, you see where the price is headed, the lower range of this parallel line connected from one pivot point to another, and this is the point that broke through here in 2025, but ultimately the destination I see with this big sell candle, we are dropping here to $157.47.
Let's take a look at the weekly Relative Strength Index (RSI). You can see, guys, it's breaking through the 30 level right now. It is at 29.34. Therefore, at any moment Boeing will be ready to bounce back.
If you are more conservative, the target is $160, and start entering cautiously as we expect a good bounce for Boeing stock to test the $189 level again on the charts as a minimum.