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SUPPORT & RESISTANCE


Boeing Breakout

07/02/00 01:29:39 PM
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.

Security:   BA
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.



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.

Title: Industrial Engineer
Company: Technical Analysis, Inc.
Address: 4757 California Ave SW
Seattle, WA 98116
Phone # for sales: 206 938 0570
Website: Traders.com
E-mail address: JasonHutson@Traders.com

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