Boeing next 60 minutes bearish or bullish with the source of magic signal
10/9/2024 03:40pm
Aime
The bearish outlook for Boeing (BA) over the next 60 minutes is reinforced by several technical indicators and recent news events:
Technical Indicators:
Boeing's stock is currently below key moving averages, with the RSI at 36.22, indicating oversold conditions1. This typically suggests that a stock is potentially due for a bounce or short-term relief.
The stock's Moving Average Convergence Divergence (MACD) is negative, which is a bearish signal12.
The Relative Strength Index (RSI) is 44.48, which is considered neutral and not strongly bullish or bearish2.
The stock is trading within the lower bearish band of the Bollinger Bands2, further indicating a bearish trend.
1/3
BA Trend
Recent News:
Boeing has furloughed thousands of employees due to a machinist strike, which has put additional pressure on the stock1.
The company's stock price has been under significant selling pressure, with risks of further downside2.
Boeing's stock continues to plummet, dropping 38.57% year to date2.
Options Activity:
Despite the bearish trend, there has been some bullish activity in the options market, with 52% of traders showing bullish tendencies and 34% bearish3.
Predictions for Boeing's stock price over the next three months suggest a potential price range between $125.0 and $170.03.
BA Trend
Conclusion: While short-term technical indicators show oversold conditions, the overall trend and news surrounding Boeing suggest a bearish outlook over the next 60 minutes. The potential for a bounce is present, but the bearish indicators and ongoing labor disputes indicate that the stock is more likely to continue its recent downward trend rather than shift into a bullish phase in the immediate future.
Source:
1.
Boeing Braces For Turbulence As Strikes, Furloughs Send Stock Sliding, Bearish Signals Prevail
more
less
For you
How did Adobe's operating efficiency improve in early 2025?
What were the key drivers behind Adobe's net profit increase in early 2025?
How did the shift to a subscription-based model impact Adobe's net profit?
What role did new AI-driven products play in Adobe's net profit surge?
What factors contributed to Adobe's revenue growth in early 2025?
Explore
Screener
What are the best stocks to buy now?
Analysis
Aple Rating chart
Learn
Advanced technical indicators and how they are calculated and utilized