November 16, 2020, 11:24 pm EST
Stock Picks: Get Off the Ground: Boeing (BA)
Both COVID-19 pandemic and 737 Max trouble hit Boeing very hard from 440 in 2019 to 100 level in 2020. -73% drop in one year is unusual for a Dow Jones stock. But the worst might be over. Vaccines from Moderna, Pfizer are giving people a chance to deal with COVID-19. FAA or regulator may give Boeing 737 max a certificate for getting back on the air this week. Thus, Boeing clears out two major blocks.
Technically, 3-month bottom and 5-months consolidation prepared BA to come back again. 140 offers strong support. 160 gap-up turns on its engine to fly. 180 brief consolidation offers one more chance to get on board for its journey in the sky. 160 and 180 gaps provide enough buffer when pullback occurs. Let’s see how high BA can get.