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Boeing Nose Dives

|Includes:The Boeing Company (BA)

This morning, leading aerospace and defense company Boeing Co (NYSE:BA) is declining sharply. A report was released that several hedge funds sold their positions in the stock. Recently, the stock made a new high after reporting a large airplane order after the Dubai airshow. Today, BA stock is trading lower by 2.50 percent. Day traders should watch for solid intra-day support around the $131.05 level. This is a level on the chart where the stock staged a significant base before breaking out to new highs, it will usually be defended by the institutional traders. All traders should note that this is just a day trading level for the stock.

Nicholas Santiago

Stocks: BA