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

By Nick Russo

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 $132.38 and $133.30 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.

Boeing (NYSE:BA) has potential upside of 23.7% based on a current price of $132.92 and analysts' consensus price target of $164.42. The stock should hit resistance at its 200-day moving average (MA) of $134.57, as well as support at its 50-day MA of $128.37.

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.

In the past 52 weeks, shares of Boeing have traded between a low of $102.10 and a high of $150.59 and are now at $132.92, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

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