Boeing shares close lower on Thursday, Hawaiian Airlines to buy ten 787-9 wide-body aircraft

According to an announcement by Hawaiian Airlines on Thursday, it intends to purchase ten 787-9 wide-body jets from Boeing Company (BA) and take advantage of purchase rights for up to 10 additional 787s, as it seeks to offer clients new destinations to Asia.

Boeing shares closed lower for the first time in the past six trading sessions in New York on Thursday. The stock went down 1.36% ($4.90) to $355.33, with the intraday high and the intraday low being at $359.38 and $355.31 respectively.

Shares of Boeing Company have surged 20.49% so far in 2018 compared with a 4.90% gain for the underlying index, S&P 500 (SPX).

In 2017, Boeing’s stock soared 89.43%, thus, it again outperformed the S&P 500, which registered a 19.42% return.

Estimated at about $2.82 billion at list prices, Hawaiian Airlines firm order confirms an order commitment disclosed earlier this year.

The first jet deliveries are expected in 2021, the companies had announced in March.

Boeing will add the airlines firm order for 10 widebodies to its order backlog, while the 10 purchase rights are to remain as commitments, Reuters reported.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $400.00, with a high estimate of $500.00 and a low estimate of $309.00. The median estimate represents a 12.57% upside compared to the closing price of $355.33 on July 19th.

The same media also reported that 14 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Buy”, while 8 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Boeing stock are presented as follows:

R1 – $355.70
R2 – $356.08
R3 (Range Resistance – Sell) – $356.45
R4 (Long Breakout) – $357.57
R5 (Breakout Target 1) – $358.88
R6 (Breakout Target 2) – $359.40

S1 – $354.96
S2 – $354.58
S3 (Range Support – Buy) – $354.21
S4 (Short Breakout) – $353.09
S5 (Breakout Target 1) – $351.78
S6 (Breakout Target 2) – $351.26

By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:

Central Pivot Point – $346.18
R1 – $355.85
R2 – $360.91
R3 – $370.58
R4 – $380.25

S1 – $341.12
S2 – $331.45
S3 – $326.39
S4 – $321.33