Boeing shares retreat for the first time in four sessions on Wednesday, company stands as leading contender for $13.8 billion order by Singapore Airlines

As reported by Bloomberg, Boeing Company (BA) is a leading contender for an order of at least 35 wide-body aircraft by Singapore Airlines. The potential deal might be estimated at $13.8 billion at list prices.

Boeing shares closed lower for the first time in the past four trading sessions on Wednesday, while marking their largest daily slump since September 9th 2016. The stock went down 1.62% ($2.69) to $163.81, with the daily high and the daily low being at $165.24 and $163.69 respectively. In the week ended on February 5th the shares of the plane maker lost 3.16% of their market value compared to a week ago, which marked the worst performance since the week ended on May 22nd 2016. The stock has pared its advance to 0.24% so far during the current month, after surging 4.97% in January. The latter has been a fifth straight month of gains. For the entire 2016, the shares of the DJIA-featured manufacturer gained 7.67%.

According to persons with knowledge of the matter, cited by Bloomberg, Singapore Airlines is likely to select 20 jets of Boeings 777-9 model over a stretched variation of the Airbus A350.

The same media also reported that the carrier was likely to order at least 19 jets of Boeings 787-10 model, while noting that the deal could be disclosed this week.

In a statement, Singapore Airlines said it regularly discusses its fleet requirements with aircraft producers. However, it noted that “such discussions are confidential until we have a firm deal to announce”.

The carrier was reported to have reviewed a variation of Boeings twin-engine 777 model as well, which is capable of carrying 450 passengers.

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 – $163.95
R2 – $164.09
R3 (Range Resistance – Sell) – $164.24
R4 (Long Breakout) – $164.66
R5 (Breakout Target 1) – $165.16
R6 (Breakout Target 2) – $165.36

S1 – $163.67
S2 – $163.53
S3 (Range Support – Buy) – $163.38
S4 (Short Breakout) – $162.96
S5 (Breakout Target 1) – $162.46
S6 (Breakout Target 2) – $162.26

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

Central Pivot Point – $163.07
R1 – $165.32
R2 – $168.24
R3 – $170.49
R4 – $172.74

S1 – $160.15
S2 – $157.90
S3 – $154.98
S4 – $152.06