Boeing shares hit a fresh all-time high on Tuesday, company delivers 763 jetliners in 2017, likely to outperform rival Airbus

According to a statement by Boeing Company (BA) on Tuesday, 763 jetliners were delivered during the past year, which would likely be enough for the company to retain its leading position in plane manufacturing.

Boeing shares closed higher for a third consecutive trading session on Tuesday. The stock went up 2.67% ($8.28) to $318.43, after touching an intraday high at $319.88 and also a fresh all-time high.

In the week ended on January 7th the shares of the aircraft maker added 4.72% to their market value compared to a week ago, which marked the seventh gain out of eight weeks. It has also been the strongest performance since the week ended on December 10th.

The stock has extended its advance to 7.98% so far during the current month, following a 6.54% surge in December. The latter has been a fourth straight month of gains.

For the entire past year, the shares of the NYSE-listed plane manufacturer rose 89.43% following another 7.67% surge in 2016.

The company also had 912 net new aircraft orders valued at $134.8 billion in 2017 following 668 new orders worth almost $94 billion during the preceding year.

Additionally, Boeing said it had had 1 053 gross new orders during the past year. In comparison, in December, its European rival Airbus was poised to achieve over 1 000 gross new orders, without the inclusion of cancellations.

According to Reuters, citing industry sources, Airbus is poised to accomplish its objective involving the delivery of over 700 jetliners in 2017 regardless of Pratt & Whitney Geared Turbofan engine issues. However, the European jet maker is not likely to outperform Boeing Co.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $305.00, with a high estimate of $350.00 and a low estimate of $203.00. The median estimate is a 4.22% decrease compared to the closing price of $318.43 on January 9th.

The same media also reported that 13 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 10 – 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 – $319.29
R2 – $320.15
R3 (Range Resistance – Sell) – $321.01
R4 (Long Breakout) – $323.59
R5 (Breakout Target 1) – $326.61
R6 (Breakout Target 2) – $328.06

S1 – $317.57
S2 – $316.71
S3 (Range Support – Buy) – $315.85
S4 (Short Breakout) – $313.27
S5 (Breakout Target 1) – $310.25
S6 (Breakout Target 2) – $308.80

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

Central Pivot Point – $304.38
R1 – $313.35
R2 – $317.87
R3 – $326.84
R4 – $335.82

S1 – $299.86
S2 – $290.89
S3 – $286.37
S4 – $281.86