After an insane run higher, Boeing Co (NYSE:BA) shares are correcting. The stock has fallen from an all-time high of $185.71 last Thursday to a low today of $180.45. Investors should not be too eager to jump onboard. There will likely be much more downside before the stock finds a bottom. The reason for further downside is simply, the stock needs to work off a major overbought condition. Think about this, Boeing Co had a run from $126 in September 2016 to its all-time high of $185.45. There were no corrections along the way. So in reality, a pull back to $160.00 (a technical support level), would just be a natural pull back. At the $160 level, I am a strong buyer. Until then, I will hold the stock short.


Investor stock chart buy price on shares of Boeing Co