Boeing - Will it continue to rise?

Below is a monthly chart for Boeing (BA). The stock is still in a longterm down trend dating back to 2019, however the lows put in March 2020 and June 2022 provide solid support areas. Also, notice the June 2022 low is higher than the March 2020 which indicates a shorter term uptrend.

The stock is also breaking through the $169 resistance level and the next level above is $185. The $185 level has shown to be area of congestion; strong support in late 2021 and early 2022. The stock has spent a considerable amount of time around this area.

Boeing Chart - 8-10-2022

If the broader market keeps going up, I think has a chance to reach $185, but expect a pause at this point and maybe a pullback.

Let me know if you think Boeing will continue to rise or not. Leave your responses in the comments.

If you like these articles, please subscribe to my blog for related content.

Thanks,

Mike - mikepairmoney.com