[Video ] Boeing Is Showing Signs Of An Unexpected Recovery

A large order of Boeing 737 Max’s saw the stock enjoy its most bullish in nearly 5 months and break out of an inverted head and shoulders pattern on higher volume. Matt Simpson stakes a technical look.

It’s may not have been the best year for Boeing, but things took a turnaround after IAG signed a letter of intent to buy 200 of their 737 MAX jets and Korea Air Lines vowed to add 30 to their fleet. Furthermore, global sentiment had picked up on news that Trump and Xi would meet at the G20, and equities remain buoyant ahead of today’s Fed meeting where markets expect a dovish Fed. Put together, this paved way for the most bullish session this year for Boeing and the technical picture suggests there could be further upside to come. 

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