BA Archives - FaithMight

November 6, 2024November 6, 2024

Boeing Stock Price Consolidates

Boeing’s share price opened the year with a series of gap downs. These gap downs are yet to be retraced, as some of the gains of Boeing in 2023 have been lost. The opening price of Boeing in 2024 was $257.29. It has been an awful year for Boeing Investors as the current price stands at $148.65 as at the time of this writing.

For the past two months, Boeing machinists have been on strike. Members of the International Association of Machinists accepted an offer that included 38% pay increases, along with a ratification bonus that workers can elect to use as part of their retirement savings. The union rejected a previous offer from Boeing that included a 35% pay hike, extending the strike that began on Sept. 13.

The striking employees, whose absence had put production at a near-standstill, can return to work next week Wednesday “and must return by beginning of their shift on Nov. 12, 2024,” according to the union and the company. The last 3 months candle sticks closed bearish. There are indications of a possible rally as striking workers resume in 6 days. $BA price has been consolidating since October 10, at a support level at $146.89. We might see price rally to $241 in 2025.

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October 22, 2021October 22, 2021

Boeing’s Share Price Consolidates

The share price of Boeing opened at $209.91 at the beginning of this year. Price rallied to $272.98 on the 15th of March, 2021, which makes it the highest level $BA reached since the pandemic began. In 2019, Boeing’s share price reached an all-time high at $445.62. After the all-time high was reached, a head and shoulder was formed, which resulted in a dip to the lowest level at $90.29, which was during the pandemic. The current price of Boeing is at $214.34, which is almost falling to the year’s opening price at $209.91.

RSI showed that the price has been oversold in July 2021 at the support level of $205.50. After the dip in July, a rally occurred temporarily, the price has been consolidating around the support level since the second half of this year. The price of $BA has not really favored investors in this month of October as the price has been falling continuously. Consolidation of price is around $214.34 which could lead to the next rally towards $230. As countries across the world increase the administration of vaccines, there might be a huge rally, which is as a result of an increase in international flights globally, which might break the resistance level at $240.08 to the upside.

September 17, 2021September 20, 2021

Boeing Ready for A Rebound

After the lockdown made the airline industry lose billions of dollars as a result of planes being grounded, the ease of lockdown gave up to the airline industry as jobs were restored and the tourism industry try to regain its balance. Also, the Boeing 737 max was grounded worldwide between March 2019 and December 2020. This was a result of the two crashes that claimed 346 lives. The Boeing 737 Max was recalled across the world due to a series of failures. The tourism industry has been badly affected by the pandemic, but hope might be rising as vaccines are being administered across the world.

Since the ease of lockdown, the $BA daily chart has been showing higher lows and higher highs. As the price is currently at $212.14, we expect a bounce. We are hopeful the price will appreciate in the coming weeks as Boeing delivers 22 jets in August, 737 MAX ‘white tails’ nearly gone (yahoo.com). RSI has continuously shown that the price has been oversold in the past few days. A $BA price rally above $234.90 could occur, as the trendline has been broken to the upside. Also, the company claims that Boeing’s Aircraft Demand Forecast Bullish Despite Short-Term Headwinds (yahoo.com), as the press release, shows the demand for 19,000 new commercial aircraft with a book value of $3.2trillion over the next 10years.

April 4, 2019January 22, 2020

Boeing Has Lost Its Bullish Strength

The share of price of Boeing fell after two Boeing planes crashed in the past few months. In 2019, Boeing has been bullish from 315.80 and reached an all time high this year at 447.12. A gap up that occurred in the last few days of January has been filled in March. The price of $BA has been on the upper region of the Bollinger bands throughout the year until mid-month of March. The volatility of $BA in 2018 was quite low until this year.

Throughout February, the price of $BA was overbought on the RSI. The future of Ichimoku has already shown a trace of downtrend. With the analysis using the trendlines, price of $BA could begin to fall from its current 393.26 to 333.71. The price of $BA has crossed to the lower region of the bands. If price of $BA breaks to the downside to reach the expected support level of 333.71, a breakout of the support level could make the price of $BA to continue to move downward.