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by Jason K. Hutson
Boeing Company (BA) opened above resistance territory on 6/28/2000. This fact followed by a nice steady upward trend should give traders something to consider.
Position: Buy
Jason K. Hutson
Traders.com Staff Writer. Enjoys trendlines, support and resistance, moving averages, RSI, MACD, ADX, Bollinger bands, parabolic SAR, chart formations, and volume analysis.
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SUPPORT & RESISTANCE
Boeing Breakout
07/02/00 01:29:39 PMby Jason K. Hutson
Boeing Company (BA) opened above resistance territory on 6/28/2000. This fact followed by a nice steady upward trend should give traders something to consider.
Position: Buy
| Boeing seems to be headed towards higher price levels. Several times in the past few months good news and high volume have brought the stock up to the $40 price level. But the push has never been great enough to sustain those values. |
| Boeing opened higher in early trading on 6/28/00 and reached a high of 41 5/8. Boeing has not seen these price levels since late February 2000. |
|
| The upper green resistance line has been a stumbling block for Boeing for the last couple of months. The rising prices seen with the increase of volume in the begining of June 2000 are a good indication that conditions may be improving. |
| Graphic provided by: Window. |
| |
| Look for this stock and others in similar situations to follow through with some upward price movement. In order to see a large percentage change in price there needs to be a large volume day above the $40 price level. After the confirmation of a high volume day above the $40 price level the stock should see a steady rise over the next few months and test the $48 peak that occurred at the end of January. |
Traders.com Staff Writer. Enjoys trendlines, support and resistance, moving averages, RSI, MACD, ADX, Bollinger bands, parabolic SAR, chart formations, and volume analysis.
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