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

By David Diaz

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 $315.98 and $317.70 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.

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.

Boeing Co/The share prices have moved between a 52-week high of $319.91 and a 52-week low of $122.35 and are now trading 159% above that low price at $316.80 per share. The 200-day and 50-day moving averages have moved 0.21% lower and 1.01% higher over the past week, respectively.

Boeing Co/The (NYSE:BA) is currently priced 39.4% above its average consensus analyst price target of $191.93. The stock should find initial support at its 200-day moving average (MA) of $134.57 and further support at its 50-day MA of $128.37.

SmarTrend recommended that subscribers consider buying shares of Boeing Co/The on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $183.19. Since that recommendation, shares of Boeing Co/The have risen 73.8%. We continue to monitor BA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle boeing co/the

Ticker(s): BA