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BA) develops, manufactures, sells and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. This stock is trading up 3% at $105.08 in recent trading.
Today's Volume: 8.82 million
Average Volume: 5.53 million
Volume % Change: 137%
Shares of BA are trending higher today after it was found that a Boeing 787 fire in London on a plane owned by Ethiopian Airlines appears to be unrelated to its batteries. Britain's Air Accidents Investigation Branch said there was no evidence of a direct causal relationship between the 787's batteries and the fire on the Ethiopian Airlines plane.
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From a technical perspective, BA is spiking higher with heavy upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $71.85 to its recent high of $108.15. During that move, shares of BA have been mostly making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of BA within range of triggering a major breakout trade. That trade will hit if BA manages to take out its 52-week high at $108.15 with high volume.
Traders should now look for long-biased trades in BA as long as it's trending above today's low at $103.10 or above its 50-day at $100.07, and then once it sustains a move or close above its 52-week high at $108.15 with volume that's near or above 5.53 million shares. If that breakout triggers soon, then BA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $110 to $115, or even $120.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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