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  • Major Reversal On Boeing Spells Top 0 comments
    Jul 24, 2013 2:35 PM | about stocks: BA

    The Boeing Company (NYSE:BA) jumped sharply higher this morning after announcing earnings. The stock opened at $109.24 and collapsed straight down. It is currently trading at $106.84, -0.95 (-0.88%). Anytime a stock is trading at 52 week high or all time high and it gaps higher, there is a likely change of a reversal. Not only that, but if the reversal does take place, a longer term top is usually in place and the stock will trade lower. Wall Street is seeing this on many stocks including Dupont (NYSE:DD) yesterday.

    This price action on leading stocks continues to tell the world a near term top is close, if not already at hand. Bear flags on stocks like BA and DD should be played as shorts going forward.

    Gareth Soloway

    Stocks: BA
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