Bearish – BA $352.78 – Industrial
The bearish DailyPlay we chose for Friday, May 23rd is Boeing (BA). BA is part of the Industrial Sector (XLI). XLI has declined 4.90% lower over the past month and its 1m and 6m trend turned bearish and neutral on May 13th and just bounced lower off its $76 resistance level.
Boeing’s 1m and 6m trends turned bearish on May 7th while breaking below its $360 support level which now becomes resistance. With a technical score of 7 (out of 10), BA is a strong stock that is starting to turn lower.
As a stop loss, if BA was to trade above $360 for multiple days, this would invalidate our analysis and suggest getting out of the trade.