Boeing Stock is Great for Day Trading! | $BA Technical Analysis

TL;DR

Boeing stock experienced a surge in price due to new orders for its 737 Max jets from Canada's flare airlines, but there are concerns about its ability to break through the 50 area resistance level.

Transcript

all right boeing has been the big talk of the week and first thing i noticed boeing doesn't make money but they sure are soaring so what happened with boeing this week what happened was boeing climbs as they got new 737 max orders so this canada's budget carrier flare airlines has ordered let's see 13 jets so that's that's money that um boeing defi... Read More

Key Insights

• 👶 Boeing received new orders for its 737 Max jets, driving up its stock price.
• 😀 The stock is facing resistance at the 50 area level, which may hinder further price increases.
• 😇 Traders should be cautious of the bid-ask difference, which is currently 18 cents.
• 🥳 Boeing stock has potential for day trading due to its price volatility.
• 🌱 If planning to swing trade, wait for confirmation of a breakout above the 50 area resistance.
• 📈 The overall trend for Boeing stock is positive, supported by major moving averages.
• 🥳 Day traders should consider exiting positions when the stochastic drops below 80%.

Questions & Answers

Q: What caused Boeing stock to soar this week?

Boeing stock climbed as it received new orders for its 737 Max jets, specifically from flare airlines in Canada.

Q: What is the 50 rule and how does it apply to Boeing stock?

The 50 rule refers to a stock's struggle to break through the 50 area level, which creates overhang resistance. Boeing stock is currently facing this resistance, which may affect its price movement.

Q: What concerns does the author have about Boeing stock?

The author is concerned about the bid-ask difference for Boeing stock, which is currently 18 cents, and prefers it to be lower. Additionally, the stock's struggle with the 50 area resistance level is also a cause for concern.

Q: Is it recommended to buy Boeing stock at its current price?

The author suggests waiting for confirmation that Boeing stock can break through the 50 area resistance before considering buying. It may be a high-risk trade at the moment.

Summary & Key Takeaways

• Boeing stock saw an increase in price after receiving new orders for its 737 Max jets from flare airlines.

• The stock is currently facing resistance at the 50 area level, which may hinder its ability to continue rising.

• The bid-ask difference for Boeing stock is 18 cents, which some traders may consider high.