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

By Nick Russo

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 $353.46 and $353.46 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 has overhead space with shares priced $353.46, or 11.3% below the average consensus analyst price target of $398.62. The stock should run into initial resistance at its 200-day moving average (MA) of $363.36 and subsequent resistance at its 50-day MA of $373.79.

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 21% above that low price at $353.46 per share. The 200-day and 50-day moving averages have moved 0.07% lower and 2.18% 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 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