The price of Boeing stock (BA) persists in the uptrend beyond the significant moving averages and is indicating bullish momentum. On the daily charts, Boeing stock trades in the bullish territory and rides the uptrend above the 50-day EMA.
Based on the price action, it seems that the stock is poised for a substantial upward movement, with probable growth in price in upcoming sessions. Bulls are actively working to sustain these levels, indicating their commitment to the stock’s upward trajectory.
At press time, Boeing stock is trading at $223.40 with an intraday gain of -0.28%, showing bullishness on the charts. Furthermore, the trading volume is 3.658, and the market cap is $134.756 Billion.
In the last trading sessions, bears tried to showcase their strength to the bulls. However, the bulls continued to make long positions and accumulated more of the stock to extend the uptrend.
Boeing stock shows the increased presence of bulls’ in the market. Furthermore, the price action still shows higher highs and higher lows on the weekly charts, suggesting that the stock is bullish and unwilling to cool off.
The chart structure indicates that bulls are ruling the trend, and the stock is gradually approaching $250, which will probably be attained soon. Additionally, bears find themselves in a defensive situation. Investors are displaying a strong willingness to pursue this upward movement.
Will the Boeing Stock Price Recover or Decline Further?
Currently, Boeing stock (NYSE: BA) is trading above the 50 and 200-day DMAs (Daily moving averages), which are supporting the price momentum. However, if more buyers count up, then the price might reinforce bullish momentum by making higher highs and new highs. Accordingly, the Boeing price is expected to move upward giving bullish views over the daily time frame chart.
The current value of RSI is 45 points. The 14 SMA is above the median line at 48 points, indicating neutrality in Boeing stock. The MACD line at -0.2458 and the signal line at 0.8537 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the BA stock price.
Summary
Boeing Company (NYSE: BA) stock price has shown weakness recently but is bullish in the long term. BA stock price is showing bullishness on the weekly timeframe heading in the upward direction by making higher highs structure. Indicators are looking bullish on the weekly time frame and neutral on the daily time frame. However, price action reflects the bullish outlook in BA stock
Technical Levels
- Support Levels: The nearest support levels for the Boeing stock price are $210.24 and $196.45.
- Resistance Levels: The nearest resistance levels for the BA stock price are $240.46 and $256.89.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
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.
Source: https://www.thecoinrepublic.com/2023/09/04/boeing-stock-price-forecast-what-next-in-ba-200-or-250/