More Exclusive Clues on How to Trade Booming Boeing: Charts

Boeing Co. (BA) was reviewed yesterday (Tuesday) and we said, "Prices are still pointed up and our favorite indicators are not giving us a reason to sell, however, BA has doubled from its last major consolidation/base -- and prices could stall here. Traders with a high cost basis should raise stop protection to a close below $255, or below nearby support." Prices are trading a little higher today, but BA has not made a new 52-week high. Let's quickly check the charts to see if anything has changed.

In this daily bar chart of BA, below, we can see little change in the past 24 hours, except that prices have not made a new high. What does that mean? There is a quick-turning short-term reversal pattern that I have given the catchy moniker: "the close below the low of the high day." So far, Monday was the high day and if we do not make a new high and close below $276 -- the low of the high day -- we will make a small reversal....119 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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