Boeing Co- BA

Commentary:
For today's chart we've chosen to take a look at BA because their positive earnings announcement has caused many traders to consider riding the bullish momentum. In the chart below, you'll see that we've highlighted several price levels that will be used by traders to give themselves an idea of where this stock could find support in the event of a pullback. The first area of short-term support is near $85, which also coincides with October's swing high. Notice how this level reversed roles from resistance to support once the price was able to break above it. The longer-term support is currently found near $78 and is regarded by all traders as the most important barrier that stands in the way of any major shift in trend. On a bullish note, today's price action was very positive and many traders will now watch for a break above the 52-week high of $92.05 to signal further upward momentum.