Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Boeing (BA): Forming the Biggest Peak Since 2003 lows

Companies / Company Chart Analysis Mar 12, 2019 - 06:26 PM GMT

By: ElliottWaveForecast

Companies

The Stock is trading within a very technical area and it is showing a very clear 5 waves advance Elliott wave structure from its 2013 lows. When a 5 waves structure can be seen we always should be careful and pay attention to the direction of the 5 waves. Accordingly, to the Elliott Wave Theory after a 5 waves move there should be a pullback in 3 waves coming soon. The Boeing Company has been in the news lately because of an unfortunate accident related to their top-selling Aircraft which is the 737 MAX 8 jet. An Ethiopian Airlines flight crashed on Sunday only five months after the Lion Air Boeing crash in Indonesia killing 189 people.


These bad news came inline with ending the 5th wave accordingly to the Elliott Wave Theory. Consequently, a bigger pullback was expected against the main trend. In the charts below you can see the Boeing stock in the Monthly, Weekly and Daily Time frame. And when we related the price action in Boeing to other World Indices and stocks it is very possible that the blue degree wave (IV) can be around the corner. Boeing is part of the Dow Jones Industrial Average and takes the biggest percentage Weight in the Index. Which translates that a decline in Boeing will have a greater impact on the Dow Jones Industrial Average then other stocks.

The Following chart shows the Monthly view of the stock showing the idea that blue wave (III) can be ending within the Grand Supercycle. We see a nesting structure at lower levels. And from its all-time low it is unfolding as a very clear 5 waves Elliott Wave impulse. The alternative view, however, is that the stock is just correcting the cycle from 12/26/18 cycle and can still extend within wave V.

Boeing Monthly Elliott Wave Chart 03/11/2019

The following chart is showing the weekly view and its impulsive structure from 2009 lows. The move is clearly defined and very technical and the pullback can reach the levels of previous red wave IV at around 275 area.

Boeing Weekly Elliott Wave Chart 03/11/2019

The next chart is showing the daily Elliott Wave view. You can see that the stock reached the blue box area and ended red wave V of blue wave (III). And clearly ended the cycle from 12/26/18 low.

 

Boeing Daily Elliott Wave Chart 03/11/2019

As we always say to our members at Elliott Wave Forecast. The Elliott wave Theory can warn traders about future moves but more importantly, it can show the map of the Market.

By EWFEric

https://elliottwave-forecast.com

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup .

Copyright © 2019 ElliottWave-Forecast - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in