- 5/26/2023 -
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Boeing Company (BA)
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|It was the negative week for the Boeing Company (BA). During the week, the BA gave back -1.86 points, or -0.91%, and closed at 203.63 on Friday, May 26, 2023. Weekly volume was -48% below average. |
BA is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See BA long-term trend chart]
A long-term downtrend had started on March 1, 2019 at 446.01 and reached 89.00 on March 18, 2020. BA lost 357.01 points, or 80.05%, in 54 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (123.18) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See BA medium-term trend chart]
A medium-term uptrend had started on June 14, 2022 at 113.02 and reached 221.33 on February 14, 2023. BA gained -108.31 points, or -95.83%, in 35 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 138.42 and resistance is at 248.30. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See BA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 17, 2023. Use the following link to access a MACD help.
Short-term trend: [See BA short-term trend chart]
A short-term uptrend had started on May 4, 2023 at 193.27 and reached 208.58 on May 17, 2023. BA gained -15.31 points, or -7.92%, in 13 days. The price is now at the 32.33% retracement level.
Daily Technical Indicators: [See BA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 12, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.58% on Friday. It is 64.41% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.