Bullish mood lifts Boeing to session high of $212.37

Investors are currently sidelined due to the Good Friday holiday but will return to their desks tomorrow. Looking back over the previous session Thursday: after ending Wednesday at $210, Boeing went up to $212.37 only to drop back, yet still traded well overall and closed at $211.37 Thursday.

Although Boeing is appreciating today after rising as high as $212.37, price action is now slowing and consolidating around $1.72 below the $213.09 resistance level. Boeing's upper Bollinger Band® is at $217.17, this is a slight indication of a slowdown. Despite this, '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. Price action remains constrained around the key Fibonacci level of $210.7 currently serving as resistance

Overall, looking at the technical analysis landscape, it seems Boeing is likely to reverse course and start pointing down in the short term.

A look at other industrials stocks also showed bullish price action as Union Pacific traded at $198.64 after closing Thursday's trading day at $194.21 (up 2.28%).

While Boeing was bullish Thursday, the following industrials stocks underperformed: Caterpillar went down to $209.17, losing 2.04% after it closed at $213.53 Thursday. Deere & Company stumbles 1.12% Thursday to close at $373.82.

The past 6 months have been positive for the aircraft manufacturer as it appreciated 63.53%, having traded as low as $115.86.