Boeing Is Weaving in a Channel
Boeing has drifted lower for nearly a year, and prices may be in a channel that could interest traders.
First notice the highs of June, November, January and this month. Then consider the lows of July, November and December. BA has trended within those lines, which could make some traders expect a retest toward the lows.
Next, the 200-day simple moving average (SMA) has marked the top of this pattern.
Third, stochastics showed overbought readings at each of the tops. That condition applied once again last week.
Finally this chart includes our custom script MA Speed with the 10-day SMA. The indicator is currently sliding toward the red, which previously anticipated price dips.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
First notice the highs of June, November, January and this month. Then consider the lows of July, November and December. BA has trended within those lines, which could make some traders expect a retest toward the lows.
Next, the 200-day simple moving average (SMA) has marked the top of this pattern.
Third, stochastics showed overbought readings at each of the tops. That condition applied once again last week.
Finally this chart includes our custom script MA Speed with the 10-day SMA. The indicator is currently sliding toward the red, which previously anticipated price dips.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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