I have been skeptical about airline, travel & cruise stocks for the past months, however, Boeing has found strong support following the reopening of economies globally and is approaching an important weekly & daily resistance zone at around $186.
Should Boeing push through this and hold above, we could look to progress upwards to around $243 which is the next area of strong resistance.
Whilst this is a stock I am keen on based on it's current set up, it should part of a balanced portfolio and not an all or nothing punt, as it could come crashing down very quickly if we see any signs of a second wave. Don't load your pension into this one, but should provide a good return should it break resistance in the coming days as part of a balanced portfolio.
Will I buy stock in Boeing myself, unlikely.
Should Boeing push through this and hold above, we could look to progress upwards to around $243 which is the next area of strong resistance.
Whilst this is a stock I am keen on based on it's current set up, it should part of a balanced portfolio and not an all or nothing punt, as it could come crashing down very quickly if we see any signs of a second wave. Don't load your pension into this one, but should provide a good return should it break resistance in the coming days as part of a balanced portfolio.
Will I buy stock in Boeing myself, unlikely.