Boeing could bring the Dow industrials to a hard landing, says northmantrader
Is Boeing the world’s most dangerous stock? Is it a major threat to the current market rally, specifically the Dow Jones Industrial Average
New highs on a very pronounced negative RSI divergence. As you can see, this set-up is historically a red flag that has produced major reversions in Boeing stock before. The stock had a massive run since 2017, perhaps similar to the run from 2003-07. But it’s much more dramatic than that.Boeing stock now is 49% above its yearly 5EMA . On its second year, the stock is entirely disconnected. The slope on a linear chart is looking mighty exponential.
Is this compatible with the stock’s history? Boeing shares currently trade 26.3% above their weekly 50 MA . The daily picture doesn’t look any less frothy: 19.2% above its 50 day moving average with an RSI parked in the 82 area.
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