Today we are going to analyze the Boeing Stock (BA) Boeing is currently trading at 82.87$,
analyzing the weekly charts uncovers two lines that were affecting the stock since mid Jul 97 and Mar 2003
(noted as support 1 and resist 1 in the attached image),
the support line worked perfectly until it was broken in mid 2007, and the bearish sentiment on the stock took over.
the bearish target for the last bullish rally starting starting from 2003 is initially set at 74.4$.
this will be a critical point for the stock and if it will broken the new target will be 64.62$.
examining a shorter term data (daily chart) for the stock,
dont give any brighter future to the stock 
the stock broke the price envelope it was trading in, and broke the fibonacci retracement of 61.8% at 84.44$, the next support level is at 50% retracement at 71.32$.
to conclude no bullish signs on the boeing stock, would suggest to stay aside or enter short.
Tuesday, January 8, 2008
Boeing Stock (BA) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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3 comments:
Thanks, I am illiterate when it comes to interpret the technical analysis. I still don't understand what are the basis for the support lines and where does the % comes in to say 68% or 50% or so? By the way the biggest reason Boeing started going south is because it is delaying its new 787 plane roll out and it has 500 or so orders for that.
-Am
this is the whole art about technical analysis, you need not to know the "news" or the "reasons", the whole information is already in charts.
i believe in combining both directions.
anyhow, fibonacci retracements are one of the strongest tools i've ever met, some traders use it as the only tool, i suggest you read a bit about it, just google it.....
Shadi
good stuff! thanks!
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