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Downtrend Broken Resist.Archive
- 9/22/2023 -
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Boeing Company (BA) Technical Analysis
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| Summary:
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| | It was the negative week for the Boeing Company (BA). During the week, the BA dropped -10.40 points, or -5.00%, and closed at 197.71 on Friday, September 22, 2023. Weekly volume was -32% below average.
 Long-term trend: [See BA long-term trend chart]
A long-term downtrend had started on March 1, 2019 at 446.01 and reached 89.00 on March 18, 2020. BA lost 357.01 points, or 80.05%, in 54 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (126.62) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See BA medium-term trend chart]
A medium-term uptrend had started on March 15, 2023 at 192.41 and reached 243.10 on August 1, 2023. BA gained -50.69 points, or -26.34%, in 19 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The price is near the trend support (195.65) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See BA weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since September 1, 2023. Use the following link to access a MACD help.
 Short-term trend: [See BA short-term trend chart]
A short-term downtrend had started on August 1, 2023 at 243.10 and reached 197.14 on September 22, 2023. BA lost 45.96 points, or 18.91%, in 52 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 191.09 and resistance is at 222.21. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See BA daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since August 14, 2023. This is an indication that the short-term trend is down.
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