Boeings 737 MAX-9 aircraft has officially been certified for commercial service by the US Federal Aviation Administration, the plane manufacturer announced on February 16th.
Boeing shares closed lower for the first time in the past three trading sessions on Friday. The stock went down 0.40% ($1.42) to $355.04, after touching an intraday high at $359.50, or a price level not seen since February 1st ($361.45).
In the week ended on February 18th the shares of the aircraft maker added 6.67% to their market value compared to a week ago, which marked the sixth gain out of seven weeks. It has also been the best performance since the week ended on January 14th.
The stock has pared its advance to 0.19% so far during the current month, following a 20.16% surge in January. The latter has been a fifth straight monthly gain and also the largest one since July 2017.
For the entire past year, the shares of the NYSE-listed plane manufacturer soared 89.43% following another 7.67% surge in 2016.
According to Boeing, the stamp of approval indicates that the jet’s handling, systems and overall performance are all compliant with aviation regulations.
Designed to carry as many as 220 passengers, the jet made its first flight on April 13th 2017, taking off from Renton Municipal Airport and landing at Boeing Field 2 hours and 42 minutes later.
Lion Air Group is the launch customer for the 737 MAX-9 jet, as the Indonesian airline signed a firm order for 201 aircraft in February 2012.
According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $395.00, with a high estimate of $470.00 and a low estimate of $240.00. The median estimate is an 11.26% surge compared to the closing price of $355.04 on February 16th.
The same media also reported that 12 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Buy”, while 10 – as “Hold”.
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 – $355.59
R2 – $356.14
R3 (Range Resistance – Sell) – $356.69
R4 (Long Breakout) – $358.33
R5 (Breakout Target 1) – $360.26
R6 (Breakout Target 2) – $361.06
S1 – $354.49
S2 – $353.94
S3 (Range Support – Buy) – $353.39
S4 (Short Breakout) – $351.75
S5 (Breakout Target 1) – $349.82
S6 (Breakout Target 2) – $349.02
By using the traditional method of calculation, the weekly levels of importance for Boeing Company (BA) are presented as follows:
Central Pivot Point – $349.89
R1 – $364.65
R2 – $374.26
R3 – $389.02
R4 – $403.78
S1 – $340.28
S2 – $325.52
S3 – $315.91
S4 – $306.30
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