Boeing dropped by 1% and closed the session at $205.15

A quick look at yesterday: an influx of sellers pushed the aircraft manufacturer to end the session lower around $205.15, while establishing a $204.19 to $208.38 session range yesterday.

Meanwhile, United States Services PMI released yesterday at 13:45 UTC with a figure of 53.7, while the previous figure was 52.6. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 244,600, while the previous figure was 235,600. Fresh CFTC Gold speculative net positions data from United States came out at 189,900.

Trend-focused traders would be interested to note that Boeing made an initial break below its 5 day Simple Moving Average at $206.21, a possible indication of a forthcoming negative trend. Boeing is currently flirting with an active Fibonacci support level around $205.9. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $200.85, a low enough level to, generally, suggest that Boeing is trading below its fair value. Technical analysis of Boeing's past price action reveals multiple support and resistance levels: Boeing could begin to recover as it approaches significant support, now $1.72 away from $203.43. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Boeing has no clear-cut direction.

Boeing was not the only decliner in the industrials sector; Lockheed Martin closed at $482.55 (down 1.64%). Union Pacific went down 1.85%, closed at $202.6. Deere & Company closed at $386.7 (down 0.94%).

The stock has been trending positively for about 30 days. The past 6 months have been positive for the aircraft and rotorcraft manufacturer as it appreciated 44.51%, having traded as low as $115.86.