The delivery of a third 737 MAX jet to Norwegian Air Shuttle, scheduled for the upcoming week, had been postponed due to a technical issue, Boeing Company (BA) said on June 2nd.
Boeing shares registered their largest daily surge since May 22nd during the trading session on Friday. The stock went up 1.55% ($2.91) to $190.23, after touching an intraday high at $191.70 and also a fresh all-time high. In the week ended on June 4th the shares of the aircraft maker added 1.95% to their market value compared to a week ago, which marked a second consecutive period of gains. The stock has neutralized earlier drop and is now up 1.39% so far during the current month, following a 1.51% surge in April. The latter has been a second consecutive monthly gain, but yet, the smallest one since September 2015. For the entire past year, the shares of the NYSE-listed plane manufacturer gained 7.67%.
“On occasion delivery processes runs into minor issues – whether for maintenance or other reasons”, Boeing Company said in a statement, cited by Reuters. “We fully expect to deliver later this month and look forward to the MAX entering revenue service with Norwegian.”
The delivery of the first 737 MAX jet was delayed in May.
“Boeing has informed us that the delivery of our first 737 MAX is postponed until the end of June. This will not affect our operation or our passengers”, Norwegian Air said in a reference to the situation.
According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $200.00, with a high estimate of $220.00 and a low estimate of $134.00. The median estimate is a 5.14% surge compared to the closing price of $190.23 on June 2nd.
The same media also reported that 10 out of 27 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 10 – as “Buy”. On the other hand, 3 analysts had recommended selling the stock.
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 – $190.60
R2 – $190.97
R3 (Range Resistance – Sell) – $191.34
R4 (Long Breakout) – $192.46
R5 (Breakout Target 1) – $193.76
R6 (Breakout Target 2) – $194.34
S1 – $189.86
S2 – $189.49
S3 (Range Support – Buy) – $189.12
S4 (Short Breakout) – $188.00
S5 (Breakout Target 1) – $186.70
S6 (Breakout Target 2) – $186.12
By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:
Central Pivot Point – $188.82
R1 – $193.11
R2 – $195.99
R3 – $200.28
R4 – $204.57
S1 – $185.94
S2 – $181.65
S3 – $178.77
S4 – $175.89
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