Watch These Boeing Levels After Stock Logs Largest Daily Gain Since 2023

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Timothy Smith

Wed, Mar 19, 2025, 7:59 PM 3 min read

Boeing shares soared Wednesday following bullish remarks from the plane maker’s CFO, news of a new aircraft order and a favorable deliveries outlook from analysts.
After a bullish engulfing pattern marked the end of a three-week pullback in the stock earlier this month, the price has continued to trend higher, closing above both the 50- and 200-day moving averages in Wednesday’s trading session.
Investors should monitor major support levels on Boeing's chart around $165 and $146, while also watching key resistance levels near $192 and $217.

Boeing (BA) shares soared Wednesday following bullish remarks from the plane maker’s chief financial officer, news of a new aircraft order and a favorable deliveries outlook from analysts.

CFO Brian West said at an industry conference Wednesday that the company sees no near-term impact from the Trump administration’s tariffs on aluminum and steel, with the executive adding that Boeing’s cash-burn is easing in the current quarter.

Separately today, Japan Airlines announced that it has ordered 17 new 737-8 aircraft from the plane maker, adding to a March 2023 order of the same jet. Sentiment for the stock also received a lift after Bank of America analysts said they expect Boeing's deliveries to improve in March compared to February.

Boeing shares rose 6.8% to $172.62 on Wednesday, recording their biggest one-day gain in nearly two years and pacing advancers on both the S&P 500 and Dow Jones Industrial Average. With Wednesday's surge, the stock narrowed its year-to-date decline to 2.5%, roughly in line with the performance of the S&P 500 over the stretch.

Below, we take a closer look at Boeing's shares and use technical analysis to identify major price levels worth watching out for.

Bullish Engulfing Pattern Emerges

After a bullish engulfing pattern marked the end of a three-week pullback in Boeing shares earlier this month, the stock has continued to trend higher, closing above both the 50- and 200-day moving averages in Wednesday’s trading session. It’s also worth pointing out the moving averages formed a golden cross early last month, a chart pattern that signals the start of a new uptrend.

Importantly, today’s move higher was backed by the highest volume in more than two weeks, indicating buying activity by larger market participants, such as institutional investors and hedge funds. Moreover, the relative strength index (RSI) has climbed back above the 50 threshold to confirm bullish price momentum.

Let’s identify major support and resistance levels that chart watchers may be monitoring.