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Boeing Shares Are Prepared for Takeoff

Boeing (BA - Get Report) reported a 25% increase in quarterly earnings yesterday, and the company raised its year-end guidance. Shares jumped 1.6%, adding to gains made earlier in the week, and a large hammer candle formed at a key long-term resistance level. A break above this level could initiate a sustained move higher.

The stock has spent most of the year moving below a downtrend line, like one that it traded under in 2014. Over the last several months, however, the stochastics oscillator has been in bullish divergence to price.

The stochastics oscillator shows the...


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