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March 12, 2023
A quick look at Friday: Boeing recovered from the previous trading session's losses and went up to $203.07 Friday after it traded lower at $197.79.
Boeing failed to break through the $203.6 Fibonacci resistance level. Friday's price action generated a Japanese candlestick pattern showing 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Boeing's notable support and resistance levels: Boeing is $3.05 away from testing key resistance at $206.12. Peaking above this level could inspire market bulls and open the path to further gains.
While Boeing was bullish Friday, the following industrials stocks underperformed: Caterpillar lost 5.79% Friday and closed at $227. Deere & Company lost 6.05% Friday and closed at $395.93. Union Pacific closed at $196.06 (down 1.76%).
The aircraft manufacturer has fallen back around 7.88% over the past 26 days, from a notable high of $218.45.
