Today at a glance: Boeing rallied 3.06% and ended the session at $164.91.
Analysis of Boeing's recent price action suggests although Boeing is appreciating today after rising as high as $166.7, price action is now slowing and consolidating around 7 cents below the $164.98 resistance level. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Boeing's case, the RSI has fallen below 30, indicating the asset is oversold. Asset volatility analysis shows that Boeing's upper Bollinger Band® is at $160.41, this is a slight indication of a slowdown.
Overall, while Boeing has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
This rally in Boeing's share price coincided with other industrials stocks as United Parcel Service gained 2.08%, as it traded at $169.13. Lockheed Martin traded at $488.63 after closing today's trading day at $481.67 (up 1.44%). Raytheon Technologies added 1% to its value, and traded at $96.17.
Furthermore, the market is looking at United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 17:00 UTC.
After hitting an important low of $115.86 approximately 4 months ago, the aircraft and rotorcraft manufacturer has bounced back 38.11% since.