Sunday, February 9, 2014

Boeing Fibonacci Sequence Limbo

Boeing seems to be in Fibonacci sequence limbo from the looks of the chart. The high made 10 days ago is 144.57 which if rounded to the closest Fibonacci number in the sequence is 144. When stocks as this move into all-time highs looking for and anticipating a pullback percentage can be beneficial. A 23.6% correction from the 144.57 highs = 34.11. 144.57-34.11 = 110.46. It's interesting to note that this 23.6% retracement percentage lines up just 1 point away from where this stock broke out from on 9/12/2019 at 109.50. Also the weekly 50 day moving average is also at 110.50 and the old all-time highs of 107.83 are in the area. A move under its current support level of 120.38 could get the momentum needed for a nice pullback to 110.50-107.83 to possibly look at this stock for a long entry.

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