BA dominated by bulls lifting the market higher throughout the day
Boeing Company (BA) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, BA ended the week 4.83% higher at 350.79 after gaining $4.76 (1.38%) today. Today's closing price of 350.79 marks the highest close since June 18th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 346.60, Boeing confirms its breakout through the previous session's high having traded $4.64 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $5.04 (1.45%), that's below last trading month's daily average range of $6.45. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 347.74 today, it is now likely to act as support going forward.
While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share managed to break above the 50-day moving average at 348.24 today for the first time since May 7th.
Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.
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