| 
February 22, 2023
After ending yesterday at $205.52, the aircraft and rotorcraft manufacturer recovers back to $207.33 after dipping down to $204.65 earlier today.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
At the same time, United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales released earlier showed a marked improvement to -0.7% from the preceding data of -2.2%, but fell short of the 2% figure forecast by a consensus of market analysts.
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Boeing's lower Bollinger Band® is at $204.86, indicating that the market is oversold and fertile for new buyers. Chart analysis indicates Boeing could be slowing down soon; it is getting close to the resistance line and is now at $209.22, only $1.89 away. Crossing the resistance line could, however, suggest that further gains are ahead.
All in all, the technical analysis suggests Boeing has no clear-cut direction.
A look at other industrials stocks also shows bullish price action as Deere & Company is up 0.56%. Lockheed Martin gained 0.33%, currently at $480.76.
While Boeing is higher so far today, these industrials stocks are struggling: Union Pacific is down to $192.15, losing 0.83%, after ending yesterday at $193.75.
Furthermore, the market is looking at United States Crude Oil Inventories projected to come out at 1.17 million — worse than previous data of 16.28 million; data will be released tomorrow at 16:00 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 200,000, following on from the preceding figure of 194,000. New data is set to be published tomorrow at 13:30 UTC.
Also worthy of note, United States GDP figure is projected at 2.9. It previously stood at 2.9; data will be released tomorrow at 13:30 UTC.
The stock has been trending positively for about 3 months. 8 days ago the aircraft and rotorcraft manufacturer reached a significant high of $218.45 but has consequently lost 5.92% since then.
