It's tough to find a good trend to play with Boeing (BA) on the daily chart.
Longer-term trends are fine, though. The weekly and monthly show modest pullbacks here for this Trifecta Stocks portfolio holding -- nice buying chances for those with a long horizon.
The daily chart is trickier.
As we see price come into a support zone (200-day moving average and the $350 area) the buyers are not engaged. That's fine for a consolidation, but after the pounding this stock took it seems that a lack of buyers is not compelling to the bull case.
There are some good and bad signals here. The Relative Strength Index (RSI) is not that steep but pointing lower, and the money flow has weakened since March. Meanwhile, momentum is turning upward, but the cloud is still bearish and expanding.
BA stock could really go one of two directions. I give it a 50/50 shot here. With positive news BA could get back above $400.
Let's wait and see how it goes in the weeks ahead.
Bob Lang and Chris Versace are co-portfolio managers of Trifecta Stocks.