Boeing Remains Well Bid
Shares of Boeing (BA) are attracting steady bullish interest again today. During Thursday's weak Dow action, BA remained on the plus into the close finishing the day with a 1.25% gain on very heavy trade. Today, the stock is up 2.85% midday on robust volume. This surge has pushed shares back above its heavy 200-day moving average. Considering the overall market weakness since the election, investors' aggressive bidding for shares of this Dow member is a very bullish sign.
Boeing (BA) Source: TradeStation View Chart » View in New Window »Boeing has been holding in a relatively tight range since the May selloff. The stock has remained in a $5 range for the past five months. The lower band of the range was expanded slightly in late September down to $69. In October, Boeing held this level again before mounting a healthy rebound. The stock appeared headed for a breakout on Oct. 24 following its solid third-quarter report, but instead left behind a spike high. The stock suffered some heavy selling in the immediate aftermath, which included seven straight down days. By Wednesday, BA had dropped below $70 but, unlike the Dow 30, the October lows were not taken out....112 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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