Boeing (BA) has had a rough ride dating all the way back to December 2023, but the stock may finally be setting up for a long-term rally. After months of moving mostly sideways, it’s now approaching key levels that could trigger a significant rebound — potentially all the way back to its highs.
Finding a Bottom in Boeing
The stock has been struggling below the Daily Roadmap line, but the current pullback may be the final piece of a larger setup. If Boeing can hold the 61.8 fibonacci retracement zone, it could signal the beginning of a much bigger move higher.
This isn’t just a short-term bounce.
The way this pattern is developing suggests that Boeing could be gearing up for a sustained uptrend. The last major rally in the stock took about three months, and if history repeats itself, this next move could last even longer — potentially stretching into the end of the year or beyond.
The timing lines up with a broader market recovery. If the S&P 500’s Industrials sector (XLI) begins to stabilize, Boeing is likely to follow suit. Investors who have been waiting for an entry point might want to keep a close eye on how it behaves around this support level.
How High Can Boeing Fly?
If this setup plays out, Boeing could target the $300 range, which would bring it back to pre-pandemic highs. That’s a significant upside from current levels, but it won’t happen overnight. Based on past cycles, this kind of move could take anywhere from six to 15 months.
Of course, there’s always the risk that the stock fails to hold support. If it breaks below key levels, it could push out the recovery even further. But right now, the technicals suggest the worst may be behind it.
For traders looking for an opportunity in Industrials, Boeing is one of the most compelling setups on the board. The next few weeks will be crucial in determining whether it’s ready for takeoff — or if turbulence is still ahead.
Jeffry Turnmire
Jeffry Turnmire Trading
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