Muted session so far for Boeing as it oscillates around $212.64

The aircraft manufacturer trades at $212.64 today, after closing yesterday at $212.34 and gaining 30 cents (0.14%).

This uncertain state for Boeing is reflected by published market data as highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%. 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. United States Crude Oil Inventories came out at 597,000, better than analyst estimates of -583,000 and improving upon the previous reading of -3.74 million.

Boeing's upper Bollinger Band® is at $218.81, suggesting that a downward move may follow. Despite this, Boeing is approaching key support, around $2.43 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 0.86% from the beginning of the session and now trades around $100.65. General Electric is trading around $93.58 (down 0.55%). Union Pacific is down to $197.61, losing 0.56%, after ending yesterday at $198.73.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as projections for United States Core Retail Sales are set for a continuation of decline with -0.3% while previous data was -0.1%; data will be released tomorrow at 12:30 UTC. United States Retail Sales is expected tomorrow at 12:30 UTC.

The past 6 months have been positive for the aircraft and rotorcraft manufacturer as it appreciated 62.81%, having traded as low as $115.86.