The shares of The Boeing Co., one of the largest manufacturers of aviation and space equipment, are correcting at 184.00.

On the daily chart, the price could not break the support line of the ascending channel 200.00–178.00 and is trading above it.

On the four-hour chart, the range can work as a Flag trend continuation pattern, and after a breakdown of the support level of 178.00, which the asset has been testing four times, a decline to the year’s low of 163.00 may follow.

Technical indicators do not give a clear signal: fast EMA on the Alligator indicator have approached the signal line and are ready to cross it, and the AO histogram is forming correction bars just above the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 179.00, with the target at 163.00. Stop loss — 185.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 189.00, with the target at 203.00. Stop loss — 185.00.