Trader shorts Boeing as Dow stock sees worst week since 737 Max crash $BA (via TradingNation)
That's creating an opportunity on the downside, Gordon said, pointing to one of Boeing's longer-term stock charts.
But now, Boeing's 10-year uptrend is "in jeopardy of being broken," and if investors connect its 2009 low with its 2019 low, that creates a trend line that matters a lot to technically focused traders, Gordon said. "What I'd like to do is not call an all-out collapse here in Boeing. I'd like to just go ahead and see if we can play a move down towards the 300 mark, which does correspond with the old lows" from late 2018, early 2019, Gordon said.
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