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BOEING CO/THE is setting up nicely for a breakout.

By Mill Chart

Last update: Jan 31, 2023

BOEING CO/THE (NYSE:BA) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:BA.

BA Daily chart on 2023-01-31

Zooming in on the technicals.

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to BA. Although BA is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • BA is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so BA slightly outperforms the market at the moment.
  • BA is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
  • Looking at the yearly performance, BA did better than 89% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
  • BA is an average performer in the Aerospace & Defense industry, it outperforms 68% of 67 stocks in the same industry.

Why is NYSE:BA a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:BA this score is currently 9:

Besides having an excellent technical rating, BA also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 210.29. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 208.11, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BA in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:BA

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:BA and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.

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BOEING CO/THE

NYSE:BA (3/28/2024, 7:51:23 PM)

After market: 192.73 -0.26 (-0.13%)

192.99

+1.04 (+0.54%)

BA News

News Imagean hour ago - Yahoo FinanceUPDATE 1-New Boeing airplane chief says company faces 'pivotal moment'

The new head of Boeing's troubled commercial airplane unit said the planemaker faces a "pivotal moment" as it works to boost quality and address significant concerns from regulators and airline customers after a panel flew off a 737 MAX 9 jet in January. "This is a pivotal moment for us, and we have serious work ahead to build trust and improve our operations," said Stephanie Pope, who was named president and CEO of Boeing Commercial Airplanes on Monday, in an email to employees on Wednesday seen by Reuters. Pope was named chief operating officer in December and retains the title after holding a wide range of prior jobs at Boeing.

News Image2 hours ago - Yahoo FinanceUPDATE 1-Alaska Air Group says 737 Max 9 grounding may hit long-term profit growth

Alaska Air Group said on Thursday the lost capacity from the temporary grounding of its Boeing 737 Max 9 fleet may cause the company's long-term profit growth to be below its target range of 4% to 8%. Earlier this month, Alaska Air forecast first-quarter adjusted loss per share of 55 cents to 45 cents per share, compared with analysts' estimates for a loss of $1.18 per share, according to LSEG data. The first-quarter forecast reflects an unspecified partial compensation the carrier received from Boeing following a mid-air blowout of a door plug panel in January and a 30 cent-per-share impact from the temporary grounding of MAX 9 jets after the incident, Alaska Air said earlier.

News Image4 hours ago - CNBCInvesting in Space: Boeing takes backup role in flying NASA astronauts

Boeing's Starliner program finally feels close to flying people in space for the first time.

News Image9 hours ago - Yahoo FinanceNew planemaker chief says Boeing faces 'pivotal moment'

The new head of Boeing's troubled commercial airplane unit said the U.S. planemaker faces a "pivotal moment" as it works to boost quality and address significant concerns from regulators and airline customers after a panel flew off a 737 MAX 9 jet in January. "This is a pivotal moment for us, and we have serious work ahead to build trust and improve our operations," said Stephanie Pope, who was named president and CEO of Boeing Commercial Airplanes on Monday, in an email to employees seen by Reuters. Pope was named chief operating officer in December and retains the title after holding a wide range of prior jobs at Boeing.

News Image9 hours ago - The Motley FoolBoeing Stock Has 31% Upside, According to 1 Wall Street Analyst

Despite its quality control issues, Citi is confident in Boeing stock's recovery.

News Image9 hours ago - Investor's Business DailyStock Market Rally Shows Breadth As Leaders Take A Breath: Weekly Review

The stock market rally showed breadth, with small caps leading the way to a 24-month high. Growth leaders like Nvidia took a break.

News Image10 hours ago - Market News VideoBA May 10th Options Begin Trading
News Image10 hours ago - QuartzFree advice for Boeing's new leadership team from Ryanair's CEO

Michael O'Leary, chief executive of the budget airline Ryanair, doesn't care who Boeing has in Washington. He wants leadership in Seattle

News Image14 hours ago - Yahoo FinanceRyanair boss says Boeing's Pope needed in production, not CEO role

Ryanair CEO Michael O'Leary said he wants Boeing's new head of commercial airplanes division Stephanie Pope to stay in the role to fix production problems rather than be considered a contender as the planemaker's new head. O'Leary said the identity of the next CEO was secondary to the need for Boeing to address the problems that have caused delivery delays and pushed back his airline's aggressive growth plans. But he still said he would prefer Boeing CEO Dave Calhoun to stay on to complete the turnaround.

News Image14 hours ago - Yahoo FinanceUPDATE 1-Ryanair boss says Boeing's Pope needed in production, not CEO role

Ryanair CEO Michael O'Leary said he wants Boeing's new head of commercial airplanes division Stephanie Pope to stay in the role to fix production problems rather than be considered a contender as the planemaker's new head. O'Leary said the identity of the next CEO was secondary to the need for Boeing to address the problems that have caused delivery delays and pushed back his airline's aggressive growth plans. But he still said he would prefer Boeing CEO Dave Calhoun to stay on to complete the turnaround.

News Image15 hours ago - New York Times4 Takeaways About Boeing’s Quality Problems

The company’s issues date back years, employees said, and were compounded by the pandemic, when it lost thousands of experienced workers.

News Image15 hours ago - New York Times‘Shortcuts Everywhere’: How Boeing Favored Speed Over Quality

Problems have plagued the manufacturer even after two fatal crashes, and many current and former employees blame its focus on making planes more quickly.

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