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Trump Tweet Grounds Rally In Boeing

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December 6, 2016 10:53 am
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Boeing Co (NYSE: BA) shares are trading lower by $1.00 at $151.16 in Tuesday's session.

The issue, which reached it highest level since April 2015 when it peaked at $153.75 on Monday, is under mild selling pressure in Tuesday's session. The reason for that being a tweet from President-elect Donald Trump saying that the US should cancel its order for a new 747 Air Force Once as the costs are out of control.

The tweet, which took place place during the pre-market session, instigated a quick decline from the $152.00 area to $149.75 before rebounding back into the $150.00 handle. However, during the regular session, the issue found support just ahead of that low at $150.02 and is attempting to remain in the $151 handle.

In order to fill the void in price from Monday's session, the issue would need to reach $151.85, which was not far from Monday's close of $152.16.


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