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Boeing stock price analysis: getting ready to drop

By Nathan Batchelor

18:42, 4 August 2020

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Boeing

Boeing’s share price has started to turn lower, following an extended period of price consolidation between the $190 and $170 level.

Boeing stock technical analysis shows that the overall trend remains to the downside. A bearish triangle pattern breakout is warning of a coming drop towards the $130 technical zone.

Boeing medium-term price trend

Boeing’s share price came under pressure alongside the broader market last week, as bearish fundamental news surrounding the coronavirus continues to harm the aviation stock. 

Boeing stock price analysis shows that a large head-and-shoulders pattern will form if the price drops towards the May 2020 trading low.

Boeing stock price analysis

The daily time frame shows that a head-and-shoulders pattern will form if the Boeing share price drops towards the $115 support area.

According to the size of the potential bearish pattern, the Boeing share price could fall towards the $20 level over the long-term. A break of the current yearly low, around the $88 level, should increase technical selling.

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Long position overnight fee -0.0024%
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Short position overnight fee 0.0060%
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Long position overnight fee -0.0500%
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Natural Gas

6.21 Price
-8.960% 1D Chg, %
Long position overnight fee 0.0408%
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Overnight fee time 22:00 (UTC)
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Boeing short-term price trend

Boeing stock technical analysis over the short term shows that bears are in control while the share trades below the $158 level.

Lower time frame analysis shows that the stock has performed a bearish triangle pattern breakout, following the recent move below the $158 level.

Boeing stock price analysis

According to the size of the triangle pattern, Boeing’s share price could drop towards the $130 support area over the short term.

Traders should note that both the short and medium-term trend surrounding Boeing share is bearish. Selling rallies or pullbacks are therefore preferred.

Boeing technical summary

Boeing stock technical analysis shows that a bearish triangle pattern breakout has taken place. A large head-and-shoulders pattern will form if the price reaches the $115 level.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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