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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $320.85 and $328.00 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. Traders and investors interested in shares of Boeing Co/The may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Over the past year, Boeing Co/The has traded in a range of $292.47 to $446.01 and closed yesterday at $328.00, 12% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Boeing Co/The (NYSE:BA) has potential upside of 21.5% based on a current price of $328.00 and analysts' consensus price target of $398.62. Boeing Co/The shares should first meet resistance at the 50-day moving average (MA) of $353.56 and find additional resistance at the 200-day MA of $361.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Boeing Co/The on July 26th, 2019 by issuing a Downtrend alert when the shares were trading at $345.21. Since that call, shares of Boeing Co/The have fallen 7.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle boeing co/the

Ticker(s): BA