- BA Stock has witnessed a decline of more than 20% in the last two months.
- The Boeing Company has reported negative net income for the year 2022.
The Boeing Company operates in the Aerospace and Defence industry. It manufactures rockets, satellites, telecommunication equipment, and jet engines. The current CEO of the company is David L. Calhoun and the company was founded in the year 1916.
BA stock has 602.337M shares freely floating in the market and 866.805K shares are closely held by the investors. The largest portion of the company’s revenue comes from the United States.
The company used to pay dividends to its shareholders a few years ago and has not paid any dividends to its shareholders since the year 2021. The average traded volume of the stock for the last three months is 5.281M shares.
The EPS of the BA stock is negative resulting in -$7.49 which means that the company is losing money on each share. The PE ratio of the BA stock is also negative resulting in -24.31. The Boeing Company share is trading with a beta of 1.05 which represents that the share price of the company is equally volatile to the average of the market.
BA Stock Breaks Below The Structure Continuing Bearish Momentum
The BA stock price has witnessed a good advance in the past times and leading to a huge advance in price from the 13th of June 2022. The price started to advance since then and hit a high of $243.10. This resulted in doubling the price with a return of 114%. The top was formed on 1st August 2023 and since then the price started to decline to lower levels.
After consistently declining from higher levels, the BA share price has broken the bearish structure support levels multiple times. Currently, the share price is trying to keep the last trading session low as the share price has broken below the structure.
The BA stock price is also trading below the crucial EMAs. The 50-day and the 200-day EMA are trading in a death cross which indicates a downtrend in the market.
The RSI at the same time has declined below the oversold zones indicating a strong downtrend in the price momentum of the BA stock.
Financial Performance For BA Stock
The debt of the Boeing Company has been slightly declining for the last three years with a slight advance in revenue. The net income of the company has improved but is still negative which indicates that the company is making losses. The reported revenue of the company for the year 2022 is $66.61B.
Conclusion
The company’s financials are not performing well for the last few years which indicates weakness in the profits of the company. This could be one of the major reasons for the decline in the share’s price. The BA stock price is also making lower lower-low pattern on the charts.
Therefore, the share price continues to decline, and would get to see lower prices in the stock.
Technical Levels
- Support levels- $147.00 and $169.00
- Resistance levels- $200.00 and $230.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
