According to executives from Boeing and Rolls-Royce, no delays or cancellations of jet orders have so far been registered as a result of recent instability in the Middle East. Travel demand in the region has been pressured by a dispute between Qatar and neighboring Gulf countries in regard to presumptive ties to terrorism. Qatar, however, has denied such allegations.
Boeing shares closed higher for a fourth consecutive trading session on Friday. The stock went up 0.51% ($0.99) to $196.44, after touching an intraday high at $197.95 and also a fresh all-time high. In the week ended on June 18th the shares of the aircraft maker added 3.37% to their market value compared to a week ago, which marked the third gain in the past four weeks and also the best performance since the week ended on February 19th. The stock has extended its advance to 4.70% so far during the current month, following a 1.51% surge in May. 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%.
“Any major crisis in the Middle East would affect our industry one way or another. We are not there yet”, Eric Schulz, Rolls-Royce’s civil aerospace president, said at the Paris Air Forum, cited by Reuters. “Compared with the situation six months ago, this is a landscape which seems to be less stable, but that doesnt mean it will be unstable in six months time”.
“They may be a bit more cautious and careful as they go forward but we’re not seeing a significant uptake in deferrals or cancellations at this point”, Randy Tinseth, Boeing’s marketing vice president was quoted as saying by the same media in a reference to the company’s clients in the Middle East.
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 $130.00. The median estimate is a 1.81% surge compared to the closing price of $196.44 on June 16th.
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 – $196.64
R2 – $196.83
R3 (Range Resistance – Sell) – $197.03
R4 (Long Breakout) – $197.62
R5 (Breakout Target 1) – $198.30
R6 (Breakout Target 2) – $198.59
S1 – $196.24
S2 – $196.05
S3 (Range Support – Buy) – $195.85
S4 (Short Breakout) – $195.26
S5 (Breakout Target 1) – $194.58
S6 (Breakout Target 2) – $194.29
By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:
Central Pivot Point – $194.15
R1 – $200.24
R2 – $204.05
R3 – $210.14
R4 – $216.24
S1 – $190.34
S2 – $184.25
S3 – $180.44
S4 – $176.64
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