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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 $352.35 and $353.85 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 has overhead space with shares priced $352.79, or 11.5% below the average consensus analyst price target of $398.62. Boeing Co/The shares should first meet resistance at the 200-day moving average (MA) of $363.36 and find additional resistance at the 50-day MA of $372.39.

In the past 52 weeks, shares of Boeing Co/The have traded between a low of $292.47 and a high of $446.01 and closed yesterday at $352.79, which is 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% 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.

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 am inside day candle boeing co/the

Ticker(s): BA