Boeing Stock at Make or Break Level: Technician

It's been a bumpy year for Boeing Co. (BA) amid broader market volatility and company-specific headwinds. This week, shares of the jetplane maker continued to fall on bad news for its 737 model, tumbling over 5% in just two days. The Dow Jones Industrial Average (DJIA) stock now faces a critical test, according to one market watcher. Aerospace Giant Could Retest October Lows Miller Tabak equity strategist Matt Maley spoke in an interview with CNBC's "Trading Nation" on Tuesday, pointing to Boeing's technical chart as signaling a crucial point for the world's largest aerospace company. "Looking on a short-term basis, the 200-day moving average has been the key support for the stock all year," said Maley. "It did dip below it for one day back in October but bounced back immediately. It's now dipping below it again."Boeing shares closed right at their 200-day moving average on Tuesday. Maley noted that shares have not remained below that trend line for a prolonged stretch in over two years and that if they can't regain that line "rather quickly" they will "probably see a quick retest of those October lows." Trading down about 0.4% on Wednesday afternoon at $348.23, Boeing shares have fallen 11.7% from their 52-week high, yet still, reflect an 18.1% return YTD versus the Dow's 1.8% gain and the S&P 500's 1.3% increase.