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Possible Bearish Inside Day Candle Pattern Detected for Boeing Co/The (NYSE:BA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Boeing Co/The (NYSE:BA) based on the price action in the company's shares. Today's price range of $374.47 and $374.48 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Boeing Co/The may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Boeing Co/The share prices have moved between a 52-week high of $446.01 and a 52-week low of $292.47 and are now trading 28% above that low price at $374.48 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide. The Company also researches, develops, produces, modifies, and supports information, space, and defense systems, including military aircraft, helicopters and space and missile systems.

There is potential upside of 6.4% for shares of Boeing Co/The based on a current price of $374.48 and an average consensus analyst price target of $398.62. Boeing Co/The shares should encounter resistance at the 50-day moving average (MA) of $391.75 and support at its 200-day MA of $359.04.

SmarTrend is monitoring the recent change of momentum in Boeing Co/The. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Boeing Co/The in search of a potential trend change.

Keywords: bearish inside day candle boeing co/the

Ticker(s): BA