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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 $337.51 and $340.73 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.

There is potential upside of 17.6% for shares of Boeing Co/The based on a current price of $339.00 and an average consensus analyst price target of $398.62. Boeing Co/The shares should encounter resistance at the 200-day moving average (MA) of $352.97 and support at the 50-day MA of $334.95.

In the past 52 weeks, shares of Boeing Co/The have traded between a low of $302.72 and a high of $446.01 and are now at $339.00, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 1.01% lower over the past week, respectively.

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.

SmarTrend is tracking the current trend status for Boeing Co/The and will alert subscribers who have BA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle boeing co/the

Ticker(s): BA