Boeing Near the 50 Day

Published on Tuesday, 31 January 2012 22:00 Written by Christopher Lynn

New York, January 31st (TradersHuddle.com) - Shares of Boeing Co. (NYSE:BA) closed the trading day at $74.18 close to its 50 day moving average currently set at $71.88. Boeing's price action is just above this important support level translating into a trading opportunity.

The Boeing Company (NYSE:BA) , together with its subsidiaries, engages in the design, development, manufacture, sale, and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company's family of the commercial jet aircrafts includes the 737, 747, 767, 777, and the new generation 787 Dreamliner. Boeing is based Chicago and founded in 1916.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $72.85 and calculated resistance at $76.70. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Boeing will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.