• Return to Headlines

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

By Shiri Gupta

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. Yesterday's price range of $335.69 and $340.74 is within the prior day'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 $302.72 and closed yesterday at 11% above that low price at $336.75 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.3%.

Potential upside of 18.4% exists for Boeing Co/The, based on a current level of $336.75 and analysts' average consensus price target of $398.62. Boeing Co/The shares should encounter resistance at the 200-day moving average (MA) of $352.77 and support at the 50-day MA of $334.22.

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 am inside day candle boeing co/the

Ticker(s): BA