The this week’s chart Boeing has made a beautiful retrace down to the Roadmap line and started to bounce back up.
We have some resistance where price was rejected several times on the way down, so that makes the conservative entry above that resistance around $212.
That’s followed by more resistance to watch out for at the prior high of 218.81.
But if Boeing can clear all that then $225 is my upside target based on the Market Roadmap pattern. And you want to wait for the entry because the pattern all breaks down if Boeing breaks below $190.
Make sure you move your stop up as we get to the prior highs. Price might not make it through this time either.
I expect this setup to play out into the mid to late summer.
If you want a list of setups like this every week, you should check out my Market Roadmap here.
Jeffry
