Boeing Stock Price Continues To Fall On Safety Woes

Boeing Stock NYSE: BA – Weekly Chart 

Boeing’s stock price fell on Tuesday after a report that the 737 Max may be sidelined through the holidays.

The Wall Street Journal reported on Tuesday that officials from the Federal Aviation Administration are not satisfied with Boeing’s progress in meeting requirements to bring the 737 Max into compliance.

The plane has been out of commission since March of this year, after two fatal crashes related to its design.

Commercial airlines have recently delayed the inclusion of the plane into their flight schedules, with the current estimates for early to mid December. 

Based on its market cycles, we believe Boeing (BA) has further downside risk in the coming weeks. 

Our analysis of of Boeing’s stock shows its price in a larger cycle declining phase. Our target is $320 in the coming weeks. 

For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.

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