Boeing Stock Forecast: BA Turns Bullish, Will it Breach $220?

Boeing Stock Forecast: BA Turns Bullish, Will it Breach $220?

Boeing Stock Forecast: Boeing Stock is technically bullish. The Boeing Stock Prediction for the Next 12 months is $189.

Latest Price

Boeing Stock Performance vs NASDAQ

Boeing(NASDAQ)

  • 1 Month: +15.8 (-5.3)
  • 3 Months: +62.9 (-3.8)
  • 12 Months: -0.8 (-29.9)

BOEING Stock Price Prediction for the next 12 months

Average BA Stock Forecast for the next 12 Months$189
Susquehanna$217
JP Morgan$200
Wells Fargo$218
Bank of America$190
Credit Suisse$121

Boeing Stock Technical Analysis

Boeing Stock has had a very strong 4th quarter as of now. Boeing shares rallied after touching the low at $120 in June 2022 and the share price breached $185. The rally to over $180 started after the Boeing stock breached the critical resistance at $175.

In the last 3 months, Boeing shares have been surging, It has gained over 60% in the last 3 months. At the time of writing Boeing is trading over $210 and it is moving closer to its 52-week high price of $229.67. The 52-week low price of BA stock was $113.02.

Performance on the last Trading Day

  • Open Price: $204.99
  • Close Price: $213
  • Gain/Loss: +3.91%
  • Overall Market Cap: $126,360,356,368
image 157

On the last trading day, Boeing closed 3.91% higher. On the above 4-hour chart, Boing is technically bullish. The net BA share price is above the 50-day and the 200-day moving averages. The 50-day MA formed a Golden cross with the 200-day MA which is a positive indication. The BA shares are likely to rise higher.

The 50-day MA is serving as the first level of support for Boeing stock while the first level of resistance is $231.25. The BA shares with current momentum is likely to rise above the first resistance level.

The chart above clearly shows that Boeing stock is pulling back and it will find support at $171. if the momentum turns overly bearish, the downside break may not be prevented.

image 158

The Stochastic RSI of Boeing’s share is within the over brought territory and it is moving sideways indicating a positive signal for BA shares.

On the MACD chart, the trading volume is up, and the MACD series is above the 9-day moving average. BA is technically bullish. BA shares are likely to rise higher as indicated by the technicals.

Indicators:

  • Moving Average: Buy
  • RSI: Bullish
  • Stochastic RSI: Buy
  • MACD: Buy

Overall: Buy

Read our analysis on Tesla Stock Forecast 2023

Boeing Stock Forecast: Q3 Results

  • The revenue of the company decreased from $16.68B (Q2) to $15.96B (Q3). This happened with a YoY of 4.43% (Q3) as compared to -1.86% YoY (Q2).
  • EPS for Q3 stands at -5.50 as compared to 0.32 (Q2), with a YOY growth rate of -2868.67% (Q3) as compared to -67.61% (Q2).
  • Cashflow from operating activities is $3,190M (Q3,2022) as compared to ($262M) (Q3,2021), which is an increase of 1317.56% YoY.
  • Net Income for Q3 is ($3.37B) with a YoY of -2904.56%.
  • Segment-wise revenue data: Commercial Airplane $6263M, Defense, Space & Security $5307M, Global Services $4432

Boeing is to revive itself again, after restarting its 737 Deliveries. With the supply chain disruptions happening, the stock is not performing well yet. So, it is up to the investors to believe Boeing will successfully recover.

Boeing Stock Forecast Today

Overall OutlookNegative
1. Market's WisdomPartially Negative
1a. Market DataNeutral
1b. Technical RecommendationSell
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentLower
Boeing stock forecast

-Rakesh Atla

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions. 

CrowdWisdom360

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