Is the bullish run coming to an end? Boeing closed at $217.31 (-0.37%)

Though in the midst of a 4 day uptrend, gaining a total of 4.83%, ($10.82), The prevailing bullish trend is beginning to fade following Friday's downbeat session. The aircraft and rotorcraft manufacturer has recovered almost all of its session losses after dipping down to $215.69 Friday.

Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Friday's price action generated a Japanese candlestick pattern showing a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. Asset volatility analysis shows that Boeing's upper Bollinger Band® is at $218.31 which indicates a further downward move may follow. Technical analysis of Boeing's past price action reveals multiple support and resistance levels: Boeing could begin to recover as it approaches significant support, now $1.7 away from $215.61. Dipping below could be an indication that further losses are ahead.

Notwithstanding Boeing's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Boeing was not the only decliner in the industrials sector; United Parcel Service went down to $170.49, losing 0.58% after it closed at $171.48 Friday. Union Pacific went down 0.66%, closed at $201.

The stock has been trending positively for about a month. Boeing hit a significant low of $115.86 around 11 months ago, but has since recovered 88.25%.