Boeing Hits Big Support Zone and Becomes Oversold

It has been a rough year for Boeing, but the stock may be poised for an oversold bounce. After a big plunge in January, the stock firmed for a few months and then worked its way higher in April-May. BA peaked in early June and fell back to support over the past week. Notice that RSI dipped below 30 for the first time since early February. The stock is still in the falling knife category, but is ripe for at least an oversold bounce. Watch this week's high for a short-term breakout.

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