The Boeing Company (BA) is a stock I like for several reasons: solid management, growth value, fundamental strength, etc.  That said, it seems the market has different feelings about the stock lately. BA has traded in a downtrend channel since mid June! Yesterday, BA managed to breakout of downtrend channel and close above it.

If I see a second consecutive close above this resistance level today, I will think long and hard about buying BA. The stock is overdue for some upside, and this is a technical sign that the upside move may be about to start. Most likely I'll sit out over the weekend and watch price action a bit on Monday, but a Friday purchase may be in the cards. This is a simple breakout play, nothing too advanced. The downtrend line resistance should act as support assuming a second consecutive close above the resistance level.