According to an internal memo by Boeing Company (BA), a program office has been opened for a potential “new mid-market airplane”, with Mark Jenks being expected to run the project. Jenks is currently the person in charge of Boeings 787 Dreamliner program and after he assumes the new role, that program will be headed by Brad Zaback. The contents of the memo have been confirmed by a spokesperson for the company.
Boeing shares closed lower for a second consecutive trading session on Tuesday. The stock edged down 0.24% ($0.62) to $253.70, with the intraday high and the intraday low being at $256.46 and $253.57 respectively. In the week ended on September 24th the shares of the aircraft maker added 2.99% to their market value compared to a week ago, which marked a second consecutive period of gains. The stock has pared its advance to 5.86% so far during the current month, following a 1.15% slump in August. The latter has been the first drop in the past five months. For the entire past year, the shares of the NYSE-listed plane manufacturer gained 7.67%. The stock has risen 62.96% so far in 2017.
According to Kevin McAllister, Boeing Commercial Airplanes CEO, the new office is also meant to assist Boeing in enhancing its design and production concepts.
McAllister also noted that the memo did not specify when the program would be launched as well as whether the company would decide to bring that project to the next level.
The plane maker has already announced that the new mid-market jet might enter service in the mid-2020s.
According to sources within the industry, the new plane may come in a twin-aisle configuration, allowing it to carry between 220 and 260 passengers.
According to CNN Money, the 22 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $274.00, with a high estimate of $302.00 and a low estimate of $203.00. The median estimate is an 8.00% surge compared to the closing price of $253.70 on September 26th.
The same media also reported that 12 out of 26 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 11 – as “Buy”.
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 – $253.96
R2 – $254.23
R3 (Range Resistance – Sell) – $254.49
R4 (Long Breakout) – $255.29
R5 (Breakout Target 1) – $256.22
R6 (Breakout Target 2) – $256.59
S1 – $253.44
S2 – $253.17
S3 (Range Support – Buy) – $252.91
S4 (Short Breakout) – $252.11
S5 (Breakout Target 1) – $251.18
S6 (Breakout Target 2) – $250.81
By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:
Central Pivot Point – $254.89
R1 – $260.86
R2 – $265.28
R3 – $271.25
R4 – $277.23
S1 – $250.47
S2 – $244.50
S3 – $240.08
S4 – $235.67
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