Boeing Shares Fade After Trading Higher Before the Opening Bell

NEW YORK (TheStreet) -- Boeing (BA) traded as high as $132.80 before the opening bell Wednesday after the company beat analysts earnings per share estimates by 40 cents earning $2.42. The company upped its full-year guidance, but missed on the revenue line due to an earnings charge related to a fixed-price contract with the U.S. Air Force.

Boeing shares are up 21% over the last 12 months with a 12 month trailing earnings per share ratio at 17.4 and a dividend yield at 2.3%. The stock is down about 5% year to date with the Dow Jones Industrial Average up 3.2%. When I covered the Dow 30 on July 7 the second "crunching the numbers" table showed a semiannual risky level at $132.27.

On July 9 I wrote, "Buy Boeing Shares Following Big Buy Order From Emirates Airlines". In this post I suggested that investors looking to book profiles should consider using a good 'til canceled limit order to sell strength to semiannual and monthly risky levels at $132.27 and $134.22, respectively. With a premarket high at $132.80 the first GTC order would have been triggered.

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Let's take a look at Boeing's daily chart:

Courtesy of MetaStock Xenith

The daily chart will not show the pre-market high at $132.80 and it shows the lower open at $127.79 below its 21-day, 50-day and 200-day simple moving averages at $127.91, $131.17 and $30.34, respectively.

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