Boeing and endless challenges | IFCM Hong Kong
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Boeing and endless challenges!

Boeing share, which closed 0.94% higher last season, today in the premarket lost 2% to trade under $250.

Today earlier, Boeing (NYSE: BA) Co asked some of its customers to report the production issue related to an electrical power system in specific 737 MAX jets. "Boeing said it wants those customers to check and verify if a sufficient ground path exists for a component of the electrical power system in some affected 737 MAX jets with specific tail numbers." (Reuters). This issue comes just after the problems solved at its factories on top of a separate design problem that led to the grounding of all MAXs for 20 months; however, the company says that this issue is not related to previous safety grounding, which was lifted last November. "We are also informing our customers of specific tail numbers affected, and we will provide direction on appropriate corrective actions." (Boeing announcement, NY times)

Technical overview - H1 chart


Technically it was in a confirmed uptrend. The price moved higher, while OBV moved above the trend line, and RSI was seen 55. However, after the market opening, RSI fell under 40 and under both 20 & 50 HMA. For now and as long as it is trading under the pivot point of $253, lower numbers at $247.30 (S2) and $245.50 (S3) are the following targets. On the flip side, rising above R1 at $256.70 will open the doors for R3 at $262.

Details
Author
Ahura Chalki
Publish date
05/10/23

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