The Boeing Company (BA) reported its first-quarter results Wednesday morning, which missed both on earnings per share and revenue. Traders are early sellers and the stock is lower in early activity. Let's see what this means for the charts and indicators.
In the daily bar chart of BA, below, we can see that the shares have made lower highs and lower lows the past 12 months. All the rallies to the underside of the declining 200-day moving average line have failed. The slope of the 50-day line is also bearish and two recent bounces failed at this average line.
The On-Balance-Volume (OBV) line shows a decline from June and tells us that sellers of BA have been more aggressive than buyers for a prolonged period of time. The trend-following Moving Average Convergence Divergence (MACD) oscillator is bearish and pointed lower.