Hello hello. I want to take a closer look at the technicals for The Boeing Company (Public, NYSE:BA). I think that the fundamentals have finally justified what the technicals are telling me. Boeing has historically been a good play durring war time, and with Obama committing another 30,000 troops to Afghanistan, it looks like we're going to be there for a while. Also, there is always that 787 Dreamliner to look forward to, which is Boeings highly anticipated new plane model. With each set back and delay, the price of the stock goes down. It would be good to note however, that the stock has been reacting less and less with each delay. Let's look at the chart.
We can see a clear ascending accumulation triangle (which shouldn't be confused with the bearish ascending wedge pattern which is usually followed by a reversal). Recently, the stock price experienced an almost EXACTLY 10% measured move downward. Again, this usually marks a strong bullish upward continuation of the primary trend. I've been following this stock for a while, but the fundamentals never made it appealing enough. With the new troop surge, and a chart that screams buy, I have to recommend that you take a good look at Boeing.
Good Luck,
Samba
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