Treasury secretary Mnuchin just tweeted that they had reached a deal with 5 major airlines to provide much needed financial support.
Translation=the Treasury just bailed out the Airlines.
Boeing stock has been beaten to a pulp during the life cycle of the Covid-19 pandemic. The market is set to open back above the 100-day Movibng average and this should be enough to see it test resistance at the $198 level. A clear break of this benchmark and we could see $220 per share.
Happy hunting,
Elliott.
Translation=the Treasury just bailed out the Airlines.
Boeing stock has been beaten to a pulp during the life cycle of the Covid-19 pandemic. The market is set to open back above the 100-day Movibng average and this should be enough to see it test resistance at the $198 level. A clear break of this benchmark and we could see $220 per share.
Happy hunting,
Elliott.