It’s clear that no matter how damaging the news, Boeing’s institutional sponsors will continue to do whatever it takes to levitate the stock. Remarkably, BA has rallied 10% into an onslaught of headlines concerning the aircraft manufacturer’s apparent negligence in two 737 collisions that killed 346 people. Will China or some other countries cancel their orders for the 737 Max as a result? Will lawsuits ultimately cost the company many billions of dollars? If so, investors have been acting like they don’t care. But let’s see if they can get past the 402.67 resistance shown in the chart.  It poses a formidable obstacle to the manipulation of the stock, even by the biggest institutional players in the securities world. If they are able exceed this ‘Hidden Pivot’, closing for two consecutive days above it, we would have to concede that BA’s cool, canny handlers are capable of challenging the all-time high at 446.01 recorded on March 1. _______ UPDATE (April 8, 6:55 a.m. ET): The stock has fallen 4.5% overnight — not in remorse over all of those deaths, but because Boeing announced it would cut 737 Max production by 20%. Expect the stock to recover, since this will have no impact on the predictability of earnings, the single most important factor in institutional buyers’ love affair with Boeing._______ UPDATE (Apr 9, 8:49 p.m.): Boeing’s run of bad news is challenging the stock’s mighty sponsors mightily. Even sleazeballs who happen to be Masters of the Universe can only do so much to prop up the stock when news of a 737 production cutback follows headlines concerning the crash. It’s so very nice to see them in the same position Mel Gibson’s William Wallace found himself at the end of Braveheart. Unlike him, though, they’ll figure a way out._______ UPDATE (Apr 10, 11:23 p.m.): I’ve introduced a 314.18 downside target in the chart accompanying today’s “The Morning Line”. The topic is “Boeing Is About to Sink the Dow”. _______ UPDATE (Apr 11, 11:14 a.m.): This morning’s spin-control coup should serves as a reminder of how ingenious and resourceful BA’s handlers are. The stock is in a short-squeeze rally, up as much as $6 and catalyzed by this: A story played above-the-fold on the WSJ break-page bears the headline “Boeing to Solicit Overseas Blessing for 737 Max Fix”.  Reread the investigative piece I’ve linked above and decide for yourself. Regardless of what this “fix” achieves, wouldn’t you still choose Airbus over Boeing just to be safe? ______ UPDATE (Apr 11, 5:37 p.m.): When the intended effects of the feel-good story noted above start to wear off, look for the downtrend to resume in earnest. Here’s a chart that shows a slightly revised target at 316.98.