Boeing (BA) shares soared🤡 Wednesday following bullish remarks from the plane maker’s chief financial officer, news of a new aircraft order and a favorable deliveries outlook from analysts.

CFO Brian West said at an industry conference Wednesday that the company sees no near-term impact from the Trump administration’s tariffs on 澳洲幸运5官方开奖结果体彩网:aluminum and steel, with the executive add𒅌ing that Boeing’s cash-burn is easing in th🔯e current quarter.

Separately today, 澳洲幸运5官方开奖结果体彩网:Japan Airlines announced that it has ordered 17 new 737-8 aircraft from the plane maker, adding to a March 2023 order of the same jet. Sentiment for the stock also received a lift after Bank of America 🌊analysts said they expect Boeing's deliveries to improve in March compared to February.

Boeing shares rose 6.8% to $172.62 on Wednesday, recording their biggest one-day gain in nearly two years and pacing advancers on both the S&P 500 and Dow Jones Industrial Average. With Wednesday's surge, the stock narrowed its year-to-date decline to 2.5%, roughly in line with the performance of the S&P 500 over the stretch.

Below, we take a closer look at Boeing's shares and use 澳洲幸运5官方开奖结果体彩网:technical analysis to identify major price leve🦄ls worth watching out 🐲for.

Bullish Engulfing Pattern Emerges

After a 澳洲幸运5官方开奖结果体彩网:bullish engulfing pattern marked the end of a three-week pullback in Boeing shares earlier this month, the stock has continued to trend higher, closing above both the 50- and 澳洲幸运5官方开奖结果体彩网:200-day moving averages in Wednesday’s trading session. It’s also worth pointing out the moving averages formed a 澳洲幸运5官方开奖结果体彩网:golden cross early last month, a cha꧅rt pattern that signals the start of a newཧ uptrend.

Importantly, today’s move higher was backed by the highest volume in more than two weeks, indicating buying activity by larger market participants, such as 澳洲幸运5官方开奖结果体彩网:institutional investors and hedge funds. Moreover, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) has 🀅climbed back above the 50 threshold to confirm bullish price momentum.

Let’s identify major 澳洲幸运5官方开奖结果体彩网:support and resistance levels that chart watchers may be monitoring.

Major Support Levels to Monitor

Firstly, it’s worth keeping an eye on the $165 level. The shares may encounter support in this area near three prominent troughs that f🍒ormed on the chart in April, August and J🌟anuary.

A 澳洲幸运5官方开奖结果体彩网:breakdown below this key area could see the stock revisit lower support around $146. Investors may look for buying opportunities on a retracement to this region near the February 澳洲幸运5官方开奖结果体彩网:swing low, which also c♒losely aligns with the early-♒October trough.

Key Resistance Levels to Watch

Further buying could propel a m♔ove to the $192 level. This location may provide overhead resistance near several peaks that developed on the chart between late March and early August last year, with the region also sitting just above the last month’s high.

Finally, a breakout above this level could see Boeing shares ascend to the $217 level. Investors who bought the stock at a lower price may look for exit points in this region near a 澳洲幸运5官方开奖结果体彩网:horizontal line that links the late-August 2023 trough with last year’s late-January 澳洲幸运5官方开奖结果体彩网:countertrend high.

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