$BA - Boeing can bounce

BA (Boeing) looks interesting here. The stock has been declining for eight consecutive weeks and is currently resting on the 50% Fibonacci retracement level.

Reversals typically occur around the 50% to 61.8% Fibonacci retracement levels.

The MACD indicator is on the verge of a bullish crossover, and the RSI remains in oversold territory.

There's a possibility that it could bounce from this point.

It is a bit risky as it can still drop to $167 area.

Upside targets:
$196
$214

Downside risk:
$167