Ключевые выводы
- Boeing stocks were one of the only ones to decline on Wednesday in the Dow Jones Industrial Average, a day after Boeing reported that 2024 deliveries had declined.
- Stock has formed a possible inverse head-and-shoulders pattern between August and January, which is a classic charting pattern that indicates higher prices.
- By adding this amount to the peak of the pattern’s head, a measured-move price target forecasts a target bullish of $223.
- Investors should eye crucial support levels on Boeing's chart around $164 and $146, while monitoring important resistance levels near $180 and $191.
Boeing’s (BA) stock was among those that declined in Dow Jones Industrial Average on Wednesday. This came one day after Boeing announced a drop in plane deliveries for 2024.
Boeing has delivered the fewest jets to date since the Covid-19 epidemic, despite its December delivery numbers increasing from November.
Over the past year, there have been significant setbacks in the production of the aircraft due to quality concerns, regulatory changes, and the seven-week machinist strike that caused the company’s assembly lines to slow down.
Boeing shares fell by 0.5% on Wednesday to $166.20, and were one of only seven Dow components that lost ground. Boeing shares have lost almost one-third of their value in the last year. However, they are up 21% from their 52-week-low reached mid-November. This year the stock price is down by 6%.
We break down Boeing’s technicals and highlight key price levels for investors to watch.
When the Inverse Head & Shoulders Arise
Boeing’s shares formed a possible inverse head-and-shoulders pattern between August and January, which is a classic charting pattern that indicates higher prices.
The stock price has fallen below the 200-day moving-average in recent weeks. However, this dip occurred with lower than average volume. This suggests that the drop was a good pullback and not a new round of short selling.
We’ll use technical analysis to determine a bullish target price and identify key levels of support and resistance nearby.
The Price of Measured Moving Target
Investors can use the “measured move” technique to project potential bullish targets. This is also called the “measuring principle” by chart-watchers.
For the application of this analysis we add $43 to $180, which forecasts a target of $223. Add $43 on top of $180 to forecast $223.
Crucial Support Levels to Eye
Shares could fall to $164 if they continue taking profits. The area may offer support at the low of January, which is also close to the troughs on the chart that were formed in August and April last year.
Boeing’s shares may be impacted by a deeper correction, which could bring into play a lower support level at $146. This is positioned on the graph just above 2024 as the low of the stock. It might attract interest from buyers near the trough in early October.
Следите за важными уровнями сопротивления
Resuming the stock’s rally after an election could at first propel it up to about $180. In this area, the shares could face some selling pressure. This is near a line that connects multiple peaks and valleys in the chart going back to the swing low of October 2023.
Buying shares above this point could lead to a rise of $191. Investors that bought at a lower price may want to secure profits near the horizontal line joining a series similar points in chart between November 2023 and August last year.
Только для информации. Прочтите нашу гарантию и отказ от ответственности для получения дополнительной информации.
Автор статьи в настоящее время не владеет ни одной из перечисленных выше ценных бумаг.
Знаете ли вы, что более 140 миллиардов долларов в биткоинах, или около 20% от всего запаса биткоинов, в настоящее время заперты в недоступных кошельках? Или, может быть, вы потеряли доступ к своему биткоин-кошельку? Не позволяйте этим средствам оставаться вне досягаемости! Поиск исходных фраз AI здесь, чтобы помочь вам восстановить доступ без усилий. Это мощное программное обеспечение использует передовые суперкомпьютерные технологии и искусственный интеллект для генерации и анализа бесчисленных начальных фраз и закрытых ключей, позволяя вам восстановить доступ к заброшенным кошелькам с положительным балансом.