Boeing 777 jets grounded after Denver engine failure

Boeing (BA.US) stock fell more 3.0% in the premarket after Airlines in the United States, South Korea and Japan have grounded dozens of Boeing 777 aircraft after one of the jets suffered engine failure Saturday, sending debris crashing down over Denver. US regulators have ordered inspections of jets using the same Pratt & Whitney engine that failed on the United flight, and Boeing has recommended airlines suspend using those jets until inspections can be completed.

Boeing (BA.US) stock has been trading in an sideways move since beginning of February. The price bounced off the lower limit of consolidation range on Friday. Today, one can see that the upward move is being continued despite the engine failure incident which occured over the weekend. Currently price is testing the upper limit of the range. Should a break above occur, then another upward impulse towards resistance at $227.89. Source: xStation5

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Boeing 777 jets grounded after Denver engine failure

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