The new South African COVID variant destroys the world’s stock exchanges. The hardest hit are obviously the travel sector stocks and those related to this sector.
Boeing [BA] collapsed to $196 in pre-trading. On Friday, it closed at $210.6 (+0.7%). The stock must be monitored carefully, as today in pre-trading, it’s breaking the important medium-term support at $200. If, at the end of the session today, the stock were to break even the $194 level, it would confirm a bearish signal with targets at $178 and $160.
We recommend going SHORT on the action if the stock closes below $194 by buying the Leverage Shares Boeing -1X ETP (ISIN: XS2297551454), with a target towards $178 and $160. Alert/stop loss should be above $200 (daily closing).
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