BA Stock Gains 15% After Results?

Boeing is a global company that makes and sells commercial and military aircraft, satellites, missiles, space systems, and related services. It has four business segments: Commercial Airplanes, Defense, Space & Security, Global Services, and Boeing Capital.

Boeing’s share price is currently trading at $238.69, inclining 2.11% in the last trading session. BA stock holds a market cap of $144.4 Billion. It has a total of 601.5 Million shares outstanding. The price/sales ratio for the stock is 2. It has annual sales of $66,608 Million.

Boeing stock derivatives data states that the current Implied volatility in the market is 24.06% with a decrement of 0.48% in the last trading session. It has a total of 713.9K open interest contracts as of now. The PUT/CALL ratio is 0.99 indicating a bullish sentiment being built up in the market.

Boeing Stock Price Prediction Using Price Action Strategy

The Boeing share price analysis reveals that the stock was in a correction phase and formed lower highs and lower lows from March 2021 to May 2022. The price slid nearly 60% and bottomed out in October 2022. Thereafter, the price surged nearly 35% to change its character from bearish to bullish. 

Thereafter, the price consolidated in a range-bounded zone near the swing high indicating buyers’ presence at the lower levels.

Recently, the price seemed to form a symmetrical triangle pattern after the breakout of which the price surged nearly 15% in the past 3 days. Also, the stock has taken the results positively and made a breakout of the symmetrical triangle.

For Now, the price is expected to continue its ongoing trend as the breakout has come after a long consolidation. The price may surge forming higher highs and higher lows until it encounters some major resistance in its way. 

BA Share Price Forecast from Indicators’ point of view

As per the EMA analysis, the BA stock price is trading above 50 EMA and 200 EMA which shows the price is in a strong uptrend for now. Also, the 50 EMA may act as a support if the price takes a pullback.

At the time of publishing, the RSI value of the BA share price is 74.76 and that of the SMA line is 57.2. RSI is headed upwards by getting support from the SMA line which shows the strong buying sentiment prevailing in the market.

Conclusion

Boeing stock price prediction concludes that the stock bottomed out in October 2022. Thereafter, the price surged nearly 35% to change its character from bearish to bullish.

The price then consolidated near the swing high. 

Recently, the price formed a symmetrical triangle pattern after the breakout of which the price surged nearly 15% in the past 3 days. Now, the price is expected to continue its ongoing trend and surge higher forming higher highs and higher lows. Also, the results left a positive impression which led to the breakout in the stock.

Technical Levels

• Support levels: $207.48 and $194.43.
• Resistance levels: $243.63 and $251.67.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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