Is BA Stock Under Supply Chain Pressure?

Boeing is an American multinational company that has been a significant player in the aviation industry. They design and manufacture airplanes, rotorcraft, rockets, and many more things. BA stock price has not seen any significant gains since the Covid. They have been affected by supply chain issues. Recently Boeing Chief Executive DAVE has said that it would take until the end of 2024 to iron out the supply chain issues. He added that the priority for them is airplane manufacturing stability. He also said in the conference that the industry is going to introduce new jet designs by 2030. Boeing has released their first quarterly result for 2023 on April 26. Their revenue surged to $17.9 Billion with 130 commercial deliveries. Boeing delivered a solid first quarter and is focusing on enhancing stability in manufacturing. Boeing is dealing with supply chain woes pressure but can see a turnaround in 2024.

Boeing has a market cap of $122.78 Billion with a negative EPS. BA stock price is currently down by 8% from its 52-week high. It can observe a strong rally in price in the near future.

Will BA Stock Price Bounceback From $200?

Boeing’s stock price has been moving in a strong consolidated zone in the weekly technical chart. On the daily chart, it has been seeing a bearish momentum. BA stock price is currently trading near the value of $202 with a small drop in the intraday session. The upside trend of Boeing’s stock price can see a halt near the value of $210.Meanwhile, the support of the asset price can be observed near $200. BA stock price is currently trading below the 50 and above the 100 Exponential Moving Average. There can be a bearish crossover in the future which can push the asset price down.

The RSI of Boeing Stock is at 50 with a downside slope in it.The overall sentiment of the RSI is bearish in nature.

Summary

Boeing recently released their first-quarter results and it was impressive. BA stock price is currently in a downside trend and can see a new high in the future.

Technical Levels

Major Support:$200

Major Resistance:$210

Disclaimer

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