Boeing Plummets on Software Glitch, But Technicals Suggest Bottom

Boeing (BA) has been on a wild ride since its purchase in January 2025. At that time, it was the most hated stock on Wall Street, but a variation of the 'dogs of the Dow' strategy led to a significant gain.

The company lost 31% in 2024, while the S&P 500 gained over 23%. However, by late January 2026, Boeing had reached $250 per share, a 45% gain from its starting point in 2025.

Recently, shares of Boeing have declined by 22%, dropping to $184 on Monday. This was the lowest closing price for the stock this year. However, technically speaking, the stock appears to be in a sweet spot for a fresh long position.

The software glitch affecting new versions of the 737 MAX autopilot has caused the Federal Aviation Administration to delay approval of the 737 MAX 10. United Airlines and Southwest Airlines have told Boeing they won't accept delivery of the affected aircraft until the situation is resolved.

Boeing knew about the software glitch in November 2024, but didn't share its findings with the FAA until September 2026. The company has a massive backlog to consider, with $715 billion worth of orders, including around $600 billion in commercial airliners.