Boeing (BA) shares remained in focus Wednesday as investors 澳洲幸运5开奖号码历史查询:digested yesterday's reports that China told its airlines not to take more deliveries of the American company's jets amid an intensify trade war between Washington and Beijing.

The development adds to a difficult 12 months for the plane maker's stock, which has struggled to gain investors’ confidence after several highly publicized safety and manufacturing mishaps, compounded by a 澳洲幸运5开奖号码历史查询:seven-week machinists strike, all of which weakened the company's 澳洲幸运5开奖号码历史查询:balance sheet.

Boeing shares were up 1.3% at $157.50 in mid-afternoon trading Wednesday🌸. The stock has lost about 11% of its value since the start of the year.

Below, we break down the 澳洲幸运5开奖号码历史查询:technicals on Boeing’s chart and point out important price levels that invest🌳ors may be watching.

Potential Double Bottom

Tariff-driven selling in Boeing shares saw the price temporarily drop last week below the prominent November swing low, before promptly rebounding above that level to potentially form a 澳洲幸运5开奖号码历史查询:double bottom.

More recently, the stock has drifted mostly sideways since last Wednesday’s 澳洲幸运5开奖号码历史查询:wide-ranging day, with the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) providing a reading just below the 50 threshold t🔯o signal neutral price ไmomentum.

Let’s identify important 澳洲幸运5开奖号码历史查询:support and resistance levels on Boeing's chart and forecast a measured move 澳洲幸运5开奖号码历史查询:price target to put on the radar.

Important Support Levels to Watch

The first support area to watch sits around $146. A 澳洲幸运5开奖号码历史查询:retracement to this level could attract buying interest near a 澳洲幸运5开奖号码历史查询:trendline that connects a range of comparaﷺble trading activity on the chart stretching back to mid-April last year.

A close below this level could see the shares revisit lower support at $137. Investors will likely keep a close on this area near the closely aligned November and April troughs that form the potential double bottom.

Crucial Resistance Levels to Monitor

A tailwind from current levels could see the shares initially climb to $166. This location provides a 澳洲幸运5开奖号码历史查询:confluence of overhead resistance near the 澳洲幸运5开奖号码历史查询:200-day moving average and a series of swing low𝐆s tha♎t developed on the chart between April 2024 and January this year.

Further upside may accelerate🦹 a move to around $187. The shares could face headwinds in this region near multiple peaks on the chart from last May to February.

Measured Move Target to Put on the Radar

Investors can forecast an upside target using the measured move technique, also known by chart watchers as the 澳洲幸运5开奖号码历史查询:measuring principle.

When applied to Boeing’s chart, we calculate the distance of the double bottom in points and add that amount to the pattern’s neckline. For example, we add $50 to $187, which pro🌠jects a target o♍f $237, around 52% above Tuesday’s closing price.

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