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

By Amy Schwartz

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 $136.05 and $138.23 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.

Over the past year, Boeing Co/The has traded in a range of $89.00 to $391.00 and closed yesterday at $137.74, 55% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 7.5%.

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.

Potential upside of 189.4% exists for Boeing Co/The, based on a current level of $137.74 and analysts' average consensus price target of $398.62. The stock should run into initial resistance at its 50-day moving average (MA) of $200.64 and subsequent resistance at its 200-day MA of $313.18.

SmarTrend is tracking the current trend status for Boeing Co/The and will alert subscribers who have BA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle boeing co/the

Ticker(s): BA