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BA Bullish Scenario for NYSE:BA by legacyFXofficial

The daily chart for US company Boeing Co . (BA) experienced a Falling Wedge technical pattern. Boeing Co . is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The company also provides leasing and product support services. The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines . However, on 05 /21/2021 Boeing’s Falling Wedge broke through its support line. If its price holds above this level, many believe that the company’s stock will experience a possible bullish price movement for the next 16 days towards 247.39 USD. When dealing with this asset, stop-loss orders are recommended at 219.07 USD.

Fundamentals:

Boeing has drawn up preliminary plans for a fresh sprint in 737 MAX output to as many as 42 jets a month coming Fall 2022, industry sources said, in a bid to extend its recovery from the COVID-19 crises.

– The European Union and the United States are working to resolve a dispute over subsidies to aircraft makers and should be able to do so by July, the EU’s trade chief said on Thursday in a further sign of improving transatlantic trade ties.

– Both sides agreed in March to suspend tariffs on billions of dollars of imports in a 16-year-old dispute at the World Trade Organization over subsidies for airline manufacturers, Airbus and Boeing . The suspension runs until July 10, with tariffs re-applying on July 11 if there is no solution.

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