Boeing shares gain a second straight session on Friday, company to open its first production facility on European soil

February 27, 2017 8:45 am

Boeing Company (BA) is to invest GBP 20 million ($24.98 million) in its first factory on European soil in order to produce components for particular aircraft. The company’s facility in Sheffield, United Kingdom, spread across 25 000 square feet, is to provide employment for 30 people and is to specialize in production of actuation systems for Boeing’s 737, 737 MAX and 777 jet models.

Boeing shares closed higher for a second straight trading session on Friday. The stock went up 0.33% ($0.58) to $177.44, after touching an intraday high at $178.80 and also the highest price level ever recorded. In the week ended on February 26th the shares of the plane maker added 2.74% to their market value compared to a week ago, which marked a third consecutive period of gains. The stock has extended its advance to 8.58% so far during the current month, after surging 4.97% in January. The latter has been a fifth straight month of gains. For the entire past year, the shares of the DJIA-included manufacturer gained 7.67%.

The facility in Sheffield is expected to operate closely with Boeing’s plant in Portland, Oregon, which is specialized in production of machine parts, gear systems and flight controls.

According to Boeing’s statement, factory personnel are to be recruited as early as 2018.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Boeing stock are presented as follows:

R1 – $177.69
R2 – $177.94
R3 (Range Resistance – Sell) – $178.18
R4 (Long Breakout) – $178.93
R5 (Breakout Target 1) – $179.79
R6 (Breakout Target 2) – $180.16

S1 – $177.19
S2 – $176.95
S3 (Range Support – Buy) – $176.70
S4 (Short Breakout) – $175.96
S5 (Breakout Target 1) – $175.09
S6 (Breakout Target 2) – $174.72

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

Central Pivot Point – $176.64
R1 – $179.60
R2 – $181.76
R3 – $184.72
R4 – $187.68

S1 – $174.48
S2 – $171.52
S3 – $169.36
S4 – $167.20

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