BOEING Archives - FaithMight

November 23, 2021November 23, 2021

Boeing Maintains The Same Support Level

Boeing has maintained the same support level at 205.15 since it broke out of the resistance level in November 2020. This breakout led to the price rally which reached $278.38 in March 2021. 2021 has maintained a strong resistance at $278.38. Price has failed to reach the resistance level since march, instead, the price has touched the support level at least three times. In this month of November, the price has broken the trendline to the upside, which could be an indication of a possible rally to the resistance level at $278.38. The breakout of the trendline lasted for a few trading days before the price dipped to $211.00, which is the current price of $BA.

Before the dip in March 2020, which as a result of the pandemic, the price of $BA reached an all-time high at $447.17 in March 2019. After the all-time high, the price dipped to $89.22. The fall was the worst fall since $BA went public losing about 80% of its value. In March 2020 after the lockdown has been eased, and the airline industry began operation globally, the $BA share price begins to appreciate. The market closed yesterday at $211.00. The price of $BA could appreciate to $267.59 in the coming weeks as the holiday and vacation season resumes.

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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.