Big base potential for Boeing (BA)

Boeing (BA) is building a potential early 2020 into early 2026 big base. Continued closes above the rising 13-, 26-, and 40-week moving averages from 216 down to 209 would maintain a constructive view within this 6-year bottoming process for BA. If needed, additional chart support comes from the 188 to 176 areas, with the 200-week moving average at 188.59.

The catalyst to confirm the 2020-2026 triangle pattern as a big base for BA is a decisive breakout above the 233.85 to 243.00 downside gap from January 2024, the 61.8% extension at 247.10, and the triangle pattern neckline near 260. This would favor more upside to 290 (100% extension) initially and then higher toward 360 (161.8% extension) and potentially to 402.67-415.50 (big weekly downside gap from March 2019 and big base pattern count).

BA is stabilizing off of its 2024 and 2025 lows relative to the S&P 500, which is an encouraging sign.

Chart 1: Boeing (BA) (top) and relative to the S&P 500 (bottom)