BA stock price is facing strong bearish pressure on the daily technical charts, as it is trading below the 100 and 200-day EMAs. The stock has failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers, they couldn’t save the stock price from a free fall.
The stock is currently trading near $100.43, with a marginal loss of 2.57% in the intraday session. The stock has a potential upside target of $200, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $173.74, which could prevent further downside.
BA price forecast indicates that the stock is in a firm grip of the bears and needs to show some signs of reversal before confirming a bullish trend. Technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillator are moving near the overbought zone whereas the major EMA lines are acting as barrier points for Boeing stock price.
The company’s performance has been dismal throughout the year. It has suffered negative returns of -1.31% in the year-to-date period, -10.07% in the last six months, -15.69% in the last month, and -5.26% in the last week. This shows a persistent bearish trend that has not reversed yet.
BA Stock is Heading Towards the $120 Level; What Next?
Boeing stock (NYSE: BA) is trading under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend. The current value of RSI is 19.09 points. The 14 SMA is above the RSI curve at 27.20 points which indicates that the BA stock price is bearish and oversold.
The MACD line at -7.75 and the signal line at -6.41 are below the zero line. A bearish crossover is observed in the MACD, which signals more bearishness for the Boeing stock price.
Weekly-Time Horizon Analysis
The weekly charts of BA stock reveal that the sellers have been dominant. The stock has been on a downtrend, as it has broken below the key EMAs. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 38 and the MACD has formed red bars and a bearish crossover. These signals indicate that the stock may face more downward pressure in the coming weeks.
Boeing stock price looks weak on both daily and weekly timeframes. The stock price is heading towards the lower support level of $173.74, $140.71, and $120.00. If the support level of $173.74 breaks then the stock price probably reaches the lower level of $140 and $120. Moreover, if the BA stock wants to bounce back, then it needs buyers’ support, till then investors and traders avoid FOMO and wait for proper setup.
- Support Levels: $186.00 and $179.00
- Resistance Levels: $206.27 and $213.41
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.