The Boeing Company (NYSE:BA) paused delivery of 737 Max airplanes
Boeing has paused delivery of 737 Max airplanes due to the temporary grounding by the Federal Aviation Administration, the company announced Thursday.
“We continue to build 737 Max airplanes, while assessing how the situation, including potential capacity constraints, will impact our production system,” the company said.
This comes after the Trump administration joined dozens of countries around the world in grounding all Boeing 737 Max jets in the U.S. on Wednesday, citing links between two fatal crashes.
Boeing’s stock has been volatile on the news, and is down more than 11 percent for the week.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 398.21.
The projected lower bound is: 350.42.
The projected closing price is: 374.32.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 2 white candles and 8 black candles for a net of 6 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 17.8292. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 31.01. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -129.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.
Rex Takasugi – TD Profile
BOEING CO closed down -3.840 at 373.300. Volume was 97% above average (neutral) and Bollinger Bands were 30% wider than normal.
Open High Low Close Volume___
375.000 380.390 372.110 373.300 2,221,127
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 409.89 387.49 358.62
Volatility: 43 40 37
Volume: 2,246,086 1,190,758 926,623
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
BOEING CO is currently 4.1% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume out of BA.N (mildly bearish). Our trend forecasting oscillators are currently bearish on BA.N and have had this outlook for the last 2 periods.