Shares of Boeing (BA) took another beating today on more bad news. As the company continues to bumble things with the 737 Max, investors are beginning to question whether they can right the ship before the next recession. If they do not, Boeing is in major trouble and way overvalued. With the break down today, Boeing is headed for double bottom from late 2018 at $295.00. While it is key support, the technical chart tells pro traders it will only bounce for a short time there, before breaking lower. Ultimately, Boeing will likely drop through 2020 to a low target of $270.
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