Boeing Could Be Losing Altitude
Boeing rallied in July, but now it could be losing altitude.
The main pattern on today’s chart is the trendline running along the highs of mid-January and mid-February. The latest rebound saw prices revisit -- but not break -- this line.
Second is the April 11 low of $173.40. BA tested that level in mid-August before rolling over. Has old support become new resistance?
MACD has also been falling in the last two weeks, which could suggest momentum is slowing.
Finally, Bollinger Bands Width recently narrowed to the tightest reading of the year. That volatility squeeze may create the potential for price expansion if it the current tight range gives way.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The main pattern on today’s chart is the trendline running along the highs of mid-January and mid-February. The latest rebound saw prices revisit -- but not break -- this line.
Second is the April 11 low of $173.40. BA tested that level in mid-August before rolling over. Has old support become new resistance?
MACD has also been falling in the last two weeks, which could suggest momentum is slowing.
Finally, Bollinger Bands Width recently narrowed to the tightest reading of the year. That volatility squeeze may create the potential for price expansion if it the current tight range gives way.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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