Boeing's stock has had a good week, but the longer-term charts aren't so bullish

Boeing’s stock has had a pretty good week, as the 9.9% gain is by far the best among Dow Jones Industrial Average members. Also earlier this week, the stock broke through a downtrend line that started a year ago, that might suggest a new bullish turn.

But Oppenheimer’s Head of Technical Analysis Ari Wald said, there are longer-term technical signs that suggest that the recent bounce should be sold into, as it is just a “countertrend rally” in a longer-term downtrend, particularly relative to the broader stock market.