Thursday, July 13, 2017 8:43:28 AM
Shares of Boeing Co (NYSE:BA) surged in early trading, hitting new all-time highs at $208.61. However, the rally faded as the day dragged on with the stock giving back all the gains and closing flat at $206.44. This reversal from all-time highs increases the odds exponentially that a top is in on the aerospace company. Boeing Co has an official topping tail in place and should now start selling lower. The next wave of selling will take the stock to the daily 50 moving average, which also happens to be a pivot point of support. The downside target is $191.00 from its current level. I am short.
Gareth Soloway
InTheMoneyStocks
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