After four days of going down, Boeing is up 0.37% today

As the trading session draws to a close Boeing is ticking higher but remains broadly flat: the aircraft and rotorcraft manufacturer is currently trading at $206.16 but remains in a $204.66 – $207.09 range.

Meanwhile, United States 2-Year Note Auction released today at 17:00 UTC with a figure of 4.67, while the previous figure was 4.3.

Boeing made an initial breakout above its 50 day Simple Moving Average at $206.88, a potential indicator of a newly emerging bullish phase. Boeing's lower Bollinger Band® is at $200.08, indicating that the market is oversold and fertile for new buyers. In contrast, Boeing is $1.42 away from testing key resistance at $207.58. Peaking above this level could inspire market bulls and open the path to further gains.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Boeing to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the the aircraft manufacturer is expected to pick up significant bullish sentiment in the coming days.

This rally in Boeing's share price coincides with other industrials stocks as United Parcel Service is up 2.17%. Deere & Company is up 1.71% to $411.38.

At the same time, after closing the previous session (Friday) at $459.36, Lockheed Martin lost $7.85 and is trading around $451.51.

Moreover, macro data could boost sentiment further as United States Core Durable Goods Orders is projected to outperform its last figure with -0.2%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.

The market is looking forward to the release of new data: United States Building Permits scheduled to come out tomorrow at 12:00 UTC. United States New Home Sales (May) is scheduled for tomorrow at 14:00 UTC.

The aircraft manufacturer is now trading 7.29% below the significant high of $221.56 it set around 14 days ago.