• Boeing shares have hit its highest levels since February 2024, after it will resume returning planes to China next month.

• The stock stood out at Thursday's trade fair, laying the foundation for a stage that continues to move.

• Investors should watch key support levels on Boeing’s charts around $199 and $187, while also monitoring resistance levels at $234 and $265.

Boeing (BA) The company will restore its planes to China next month at its highest level since February last year.

CEO Kelly Ortberg said the country's airlines said they would start their first delivery in June, and China's development situation earlier this month reportedly revoked a ruling that prohibits its airline from taking delivery of Boeing aircraft. In Ortberg said Boeing plans to increase production of its highest sales of 737 jets to 42 times a month, which could increase by the end of this year.

Since the beginning of the year to the end of Thursday, Boeing's shares have rebounded from its early-April lows, with trade rising 18%, a share that is increasingly optimistic for jet makers that could be the beneficiaries of the broader U.S.-China trade deal. The stock was the highest earner on Thursday’s Dow Jones industrial average, up more than 3% to around $208.

Below, we carefully study Boeing charts and apply technical analysis to determine price levels worthy of attention.

Boeing shares exploded above the neckline at the double bottom earlier this month and then merged on the flag, a chart pattern marking a continuation of a strong upward trend in stocks that have been playing since early April.

Indeed, stocks burst out from the flag at Thursday's trade fair, laying the foundation for another stage with a higher move. However, it is worth pointing out that while the relative strength index confirms bullish price momentum, the indicator also warns of over-customized conditions with readings above 70 thresholds.

Let's determine the key support and resistance levels on the Boeing chart.

The lower level for the first viewing is around $199. The area may provide solid support near the horizontal line that connects the lows of the marking pattern with multiple peaks and grooves on the chart and extends back to the fourth quarter of 2023.

Close distance below this critical level could drop the stock to $187. Investors may look for the entry point for that location near the neckline of the Double Bottom Pattern, an area on the chart that can shift from previous resistance to future support.