Boeing surged more than 8% after the FAA certified the long-delayed 737 MAX 7, a major milestone in the company’s turnaround. The approval clears the aircraft for commercial service after years of additional safety reviews and also reinforces investor confidence that certification of the larger MAX 10 could follow. The rally was further supported by a rare double analyst upgrade and a higher price target, reflecting improving expectations for Boeing’s production, cash flow, and recovery.

From a technical perspective, today’s move is significant because it pushed Boeing back above its 8-, 13-, 21-, and 55-day exponential moving averages while the PPO completed a bullish crossover and the +DI line surged above the -DI, signaling buyers have regained control. Relative strength versus the S&P 500 is also improving, suggesting Boeing has begun outperforming the broader market. The one note of caution is that today’s rally carried the stock directly into a heavy volume-by-price resistance zone near $233-$240. While the overall technical picture has improved considerably, traders may prefer to see either a breakout through that resistance or a modest pullback before initiating new positions rather than chasing the stock after such a large one-day advance.

Wishing you the best,

Wendy