Boeing Stock: BA Stock price prepares to hit fresh 52 week high?

• Boeing Stock Price (NYSE: BA) up by 4.76% in the current week.
• BA Stock price holds $200 and is trying to reach the 52 week high.
• The Boeing stock sustains above 50 and 200 day EMA.

Boeing Stock Price (NYSE: BA) up by 4.76% on a weekly basis and forming a bullish continuation pattern. It defended the $200 support and reversed upward with a strong momentum. 

BA stock price is consolidating in a narrow range between $190.00 to $220.00 and created a positive hope for a breakout. However, The confirmation of the breakout will come when prices sustains above the $220.00 level. 

Boeing Stock Price sustains above the 50 and 200 day EMA which is sloping upward denotes positional trend is upward direction. 

BA stock tried multiple times to break the $220.00 hurdle but got rejected. It shows that strong sellers are active and will try their best to reject the price again. However, this time the upward momentum looks strong due to a rise in the volume which increases the probability of breakout. 

Boeing Stock Price closed the previous session at $213.32 with an intraday rise of 2.58%. The market capitalization stands at $128.33 Billion. 

The chart structure of BA stock is bullish and buyers seem to be more active as compared to sellers. Therefore, any short term correction will be easily absorbed by the buyers at lower levels.

Will Boeing Stock perform in the 2nd half of 2023?

Boeing Stock Price is in recovery mode and formed a strong base near $200.00. Previously, it formed a double bottom pattern on a higher time frame and prices breakout of the neckline hurdle. It triggered the positive sentiment and prices rallied 26% approx in the short period of time. 

Till the BA Stock sustains above the $200 the prices are expected to remain in bulls grip. It will increase the probability of breakout. If the breakout happens then the next phase of the rally will begin which might take the prices toward $250.00. 

The technical analysis suggests, Boeing Stock Price is in uptrend and likely to hit the fresh 52 week high in the coming months. 

BA Stock Price preparing for big rally

BA Stock price is near to the 200 week EMA which shows the strength of bulls. The long term trend has turned bullish and seems to be preparing for a big rally. The broader market index is improving which might positively impact the prices of Boeing stock. 

The technical indicators like MACD have generated a positive crossover and the curve is rising upward. The histogram bar is also rising which shows that bullish momentum is likely to continue. The RSI at 64 sloping north denotes buyers are returning back to track and more upside is open.

Conclusion

Boeing Stock Price (NYSE: BA) up by 4.76% on a weekly basis and racing toward the 52 week high. BA stock price consolidated a lot and formed a strong base near $200.00. The technical analysis suggests, Boeing Stock Price is in uptrend and likely to hit the 52 week high soon. 

Technical levels

Resistance levels: $221.00 and $230.00

Support levels: $192.00 and $173.00

Disclaimer

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