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Boeing shares gain the most in three weeks on Thursday, company’s third-quarter deliveries surge 7%

According to a statement by Boeing Company (BA) on Thursday, its total plane deliveries surged 7.4% during the third quarter of the year, supported by stronger demand for single-aisle 737 jetliners. The company also received 127 new orders last quarter.

Boeing shares closed higher for a second consecutive trading session on Thursday. It has also been the steepest daily surge since September 18th. The stock went up 1.22% ($3.13) to $258.89, after touching an intraday high at $258.95, or a price level not seen since September 22nd ($259.30).

In the week ended on October 1st the shares of the aircraft maker lost 0.87% of their market value compared to a week ago, which marked the first drop in three weeks and also the largest one since the week ended on August 13th.

The stock has extended its advance to 1.84% so far during the current month, following a 6.07% surge in September. The latter has been the fifth gain in the past six months.

For the entire past year, the shares of the NYSE-listed plane manufacturer gained 7.67%. The stock has risen 66.30% so far in 2017.

Boeing delivered a total of 202 planes during the latest quarter, up from 188 during the same period of 2016. 145 of the jets delivered last quarter were 737s compared to 120 in the third quarter of 2016.

On the other hand, 787 Dreamliner deliveries dropped to 35 from 36 a year ago and those of Boeings 777 jets went down to 16 from 22 during the same period.

Meanwhile, the plane maker projects to deliver 760 to 765 jets in 2017.

According to CNN Money, the 22 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $281.00, with a high estimate of $325.00 and a low estimate of $203.00. The median estimate is an 8.54% surge compared to the closing price of $258.89 on October 5th.

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 – $259.25
R2 – $259.61
R3 (Range Resistance – Sell) – $259.97
R4 (Long Breakout) – $261.06
R5 (Breakout Target 1) – $262.32
R6 (Breakout Target 2) – $262.89

S1 – $258.53
S2 – $258.17
S3 (Range Support – Buy) – $257.81
S4 (Short Breakout) – $256.72
S5 (Breakout Target 1) – $255.46
S6 (Breakout Target 2) – $254.89

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

Central Pivot Point – $254.72
R1 – $258.26
R2 – $262.32
R3 – $265.86
R4 – $269.41

S1 – $250.66
S2 – $247.12
S3 – $243.06
S4 – $239.01

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