Without a clear-cut direction, Boeing is trading around $212.48 and ranging between $211.5 and $213.38.
Boeing's state is reflected by market data as Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%. Following a previous reading of 228,000, Initial Jobless Claims in United States released today at 12:30 UTC fell short of the 232,000 figure expected by analysts with an actual reading of 239,000. Data for United States Crude Oil Inventories published yesterday at 14:30 UTC came out at 597,000, beating projections of -583,000 and showing improvement over the preceding figure of -3.74 million.
Boeing's upper Bollinger Band® is at $218.79, suggesting that a downward move may follow. In contrast, Boeing is approaching key support, around $2.27 away from $210.21. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Boeing is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other industrials stocks as Raytheon Technologies is down to $100.7, losing 0.81%, after ending yesterday at $101.52. United Parcel Service is up 0.41%. Union Pacific is down to $197.68, losing 0.53%, after ending yesterday at $198.73.
Moreover, tomorrow at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of -0.1%. United States Retail Sales is expected tomorrow at 12:30 UTC.
The aircraft and rotorcraft manufacturer has appreciated 62.81% over the past six months.