Boeing Co. has had a challenging year in 2024, with its shares dropping almost 50% due to accidents involving its civil aircraft.
The stock's performance has been steadily declining throughout the year, but there has been a notable rebound since mid-November. Analysts have observed that Boeing shares recently broke through a critical resistance level at $160, which is a positive sign. This breakthrough has created a "V Bottom" pattern on the charts, indicating a potential shift in market sentiment and the possibility of a bullish reversal.
The recent rebound in Airbus shares also suggests a positive sentiment within the aeronautics industry. For investors considering an investment in Boeing, the recommended entry point is above $160, with a target set at $195. It is advised to implement a stop-loss strategy at $150 to mitigate potential losses. Monitoring the technical indicators and market sentiment surrounding Boeing's shares is crucial, as they will play a significant role in determining the trajectory of the stock price.