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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Boeing (NYSE:BA) based on the price action in the company's shares. Today's price range of $182.62 and $183.15 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. Traders and investors interested in shares of Boeing may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Based on a current price of $182.98, Boeing is currently 4.4% above its average consensus analyst price target of $174.86. Boeing shares have support at the 200-day moving average (MA) of $134.57 and additional support at the 50-day MA of $128.37.

Boeing share prices have moved between a 52-week high of $187.21 and a 52-week low of $102.10 and are now trading 79% above that low price at $182.98 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.2%.

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 and will alert subscribers who have BA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Boeing

Ticker(s): BA