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.
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.
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.
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.
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%)
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.
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.
Boeing's Starliner program finally feels close to flying people in space for the first time.
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.
Despite its quality control issues, Citi is confident in Boeing stock's recovery.
The stock market rally showed breadth, with small caps leading the way to a 24-month high. Growth leaders like Nvidia took a break.
Michael O'Leary, chief executive of the budget airline Ryanair, doesn't care who Boeing has in Washington. He wants leadership in Seattle
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.
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.
The company’s issues date back years, employees said, and were compounded by the pandemic, when it lost thousands of experienced workers.
Problems have plagued the manufacturer even after two fatal crashes, and many current and former employees blame its focus on making planes more quickly.