- 1 BA stock price will retest the 20-day EMA in the next trading session.
- 2 BA stock shows a falling channel and attained a pullback from the channel lows.
Boeing Company (NYSE: BA) BA share price experienced a correction and fell below the cluster of $200 under selling pressure. Moreover, the price action shows the lower lows formation and persisted in losing the gains. However, BA stock price is near the demand zone of $180, and if any follow-on selling happens, it will settle down near it. Recently, BA stock witnessed a range breakout and stretched on toward the cluster of $240, where a tweezer top candlestick formed and BA stock experienced a reversal. After that, sellers continued pushing the stock and retraced more than 20% in the past weeks.
BA stock price is close to the 38.2% Fibonacci level, and bulls are attempting to sustain the gains for a healthy comeback. Moreover, BA stock made a hammer candlestick near the channel lower trendline, and follow-on buying was witnessed in the last trading session. Per the options chain, at the strike price of $195, a massive open interest of 3962 hundred shares on the call side indicates a strong resistance mark, whereas an open interest of 2085 hundred shares on the put side at the strike price of $185 shows a strong support mark. Besides the range, a sharp move is anticipated in the coming sessions.
At press time, BA stock price was $193.53 with an intraday gain of 2.67%, showing a pullback in yesterday’s session. Moreover, trading volume increased by 1.24% to 8.062 Million. Market cap is $116.738 Billion. However, analysts maintained a buy rating with a yearly target price of $253.18, suggesting a strong growth outlook for the following sessions.
The Boeing Co. is an aerospace company that manufactures commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide.
Will BA Stock Sustain Above 20-Day EMA?
On the daily charts, BA stock price trades below the significant moving averages and shows profit booking in the past trading sessions. Furthermore, the price action suggests that sellers are looking aggressive and have persisted in adding short positions, and based on the call writing, further follow-on selling pressure will continue, and BA stock may retest the support zone of $185 in the following sessions.
The RSI curve is below neutrality and showed a pullback from the oversold region, forming a bearish divergence and giving a negative outlook for the following sessions.The MACD shows a bearish crossover and red bars on the histogram, showing the bears’ dominance in the past sessions.
Boeing stock price is below the clyster of $200, indicating seller dominance and faced correction in the past trading sessions. Moreover, bulls have not yet absorbed the selling pressure, and are hovering below the 20-day EMA, indicating that bears have attained traction and are persisting in pushing BA stock toward the immediate support zone of $180.
Support Levels: $190 and $185
Resistance Levels: $195 and $200
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Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.