Technical Analysis of Financial Markets

Saturday, May 27, 2006

Boeing Co. (BA) - Head & Shoulders Top

Boeing seems to be forming a bearish Head & Shoulders top formation. A break below the neckline at $82 may confirm the formation; at which point, the projected price of the formation may be around $77. Price projection: peak of head (~$89) minus neckline (~$82) is a distance of around $7; project $7 downward from the neckline at $82 to achieve a price target of $75. However, a 50% Fibonacci retracement at ~$77 may provide support. Cross-post at The Bull Trader:

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