Boeing Backlog vs. Bad News

For those who doubt the power of charting and technical data, take a look at this chart for Boeing (BA):

BA Chart Pattern As Of 7/24/2013

Boeing has been on a tear since March, even though the company received a bunch of negative press for its 787 battery issues. More recently, the stock price took a hit when it was thought that there may be an issue with the Auto Throttle on the 777, but even that did not stall the stock’s upward price trajectory. Apparently, investors are more impressed with company’s order backlog than they are concerned with the issues some of its planes have experienced.

The bottom line is this: We can never know how bad (or good) news will affect a stock’s price, but the price action never lies.

Note: Charting data provided courtesy of

Disclosure: I own shares of BA, indirectly, through the Vanguard Total Stock Market (VTI) ETF.

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