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Shares of Boeing have been pulling back since early December.  This healthy action followed a powerful 73% rebound off the late October lows.  BA has been tracing out a very narrow bear channel while consolidating the November ramp.  The stock is beginning to pierce the upper band of this pattern with the help of today’s 2.4% gain.  A close above last week’s high($216.60) could spark a fresh rally leg. 

Boeing’s daily MACD is back to neutral, a very similar set up to the late October lows.  

It appears BA investors are shaking off the news:|company_news_-_corporate_actions-1245849&mod=mw_quote_news.

Earnings are due Jan. 27/AM. 

We regard BA as a fairly low risk buy at current levels.  A close back below the January lows($201.00) would be a clear indication that more basing is ahead.  We viewed BE in a similar way back in late September: A close below $159.00 late that month lead to another six weeks of basing.  

Long BA in some managed accounts.