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Summarizing Boeing Co’s BA Stock For Investors Amid Its Fall

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Summarizing Boeing Co’s BA Stock For Investors Amid Its Fall
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BA stock price may bounce back from the lower level as buyers may accumulate but the investors need to know the real growth. Boeing (NYSE: BA) has had a rather disappointing year up to this point. The fact that the stock has managed to stay up by 7.86% in 2023 reflects more on the initially low investor expectations for the year than it does on their confidence in this year’s developments.

Investors’ expectations may get hindered after the latest presentation of the CFO Brian West at the Jefferies Industrial Conference and what they think of the investment proposition for the stock.  

The key takeaways from the recent presentation at the conference: 

In simpler terms, Boeing expects to deliver between 400 to 450 of their 737 aircraft, but they think it will be closer to the lower end of that range due to some uncertainties. In the third quarter, they anticipate delivering about 70 of these planes. 

This decrease in output is because they discovered a problem with fastener holes on the fuselages supplied by Spirit AeroSystems and need to fix it. Additionally, Boeing is still dealing with supply chain and labor issues, which are affecting their profits in both commercial and defense businesses.

BA stock price was at $208.11 and lost about 0.45% of its market capitalization during Friday’s trading session. Trading volume was below average and needs to grow during Monday’s trading session in favor of buyers.

Summarizing Boeing Co’s BA Stock For Investors Amid Its Fall
Source: NYSE: BA by TradingView

BA stock price is trying to sustain at the current level in order to avoid the significant fall from the current level. However, the volume change was below average and needs to grow in favor of buyers. Meanwhile, BA share price is trading below 20, 50 and 100-days DMA while trying to sustain at 200-day daily moving average. 

BA stock experienced a 3.89% decrease over the past week and an 11.04% drop in the last month. Over the last three months, BA shares declined by approximately 5.29%, but they managed to gain around 3.82% over the last six months. Furthermore, in the year-to-date period, Boeing stock price rose by 7.86%.

Technical indicators suggest a downside trend of BA stock. Relative strength index and moving average convergence divergence both confirm the downward momentum of BA shares. 

RSI was at 40 and is about to enter the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in Boeing Company (NYSE: BA) need to wait for any directional change over the daily time frame chart. 

Summary

BA stock price may bounce back from the lower level as buyers may accumulate but investors need to know the real growth first. In simpler terms, Boeing expects to deliver between 400 to 450 of their 737 aircraft, but they think it will be closer to the lower end of that range due to some uncertainties. Meanwhile, the BA share price is trading below 20, 50, and 100-days DMA while trying to sustain at a 200-day daily moving average. Technical indicators suggest a downside trend for BA stock.

Technical Levels

Support Levels: $206.15 and $203.70

Resistance Levels: $210 and $212.30

Disclaimer

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

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