Boeing shares touch a fresh all-time high on Monday, a $13.8-billion deal signed with Singapore Airlines

October 24, 2017 9:46 am

At a White House event on Monday Boeing Company (BA) signed a deal with Singapore Airlines Ltd, which involves the sale of 39 aircraft at list prices estimated at $13.8 billion.

Boeing shares closed lower for the fifth time in the past seven trading sessions on Monday. It has also been the steepest daily loss since September 6th. The stock went down 0.92% ($2.43) to $262.32, after touching an intraday high at $265.98 and also a fresh all-time high.

In the week ended on October 22nd the shares of the aircraft maker added 1.54% to their market value compared to a week ago, which marked a third consecutive period of gains.

The stock has pared its advance to 3.19% 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 another 68.50% so far in 2017.

Last week Singapore Airlines announced that the jet order would be finalized during Singaporean Prime Minister Lee Hsien Loong’s visit to Washington.

Boeing is expected to report on its third-quarter performance on Wednesday. Analysts on average expect earnings of $2.65 per share on revenue of $23.9 billion. A consensus of estimates also points to earnings of $10.05 per share for the entire 2017.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $290.00, with a high estimate of $350.00 and a low estimate of $203.00. The median estimate is a 10.55% surge compared to the closing price of $262.32 on October 23rd.

The same media also reported that 13 out of 27 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 12 – as “Buy”.

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 – $262.67
R2 – $263.02
R3 (Range Resistance – Sell) – $263.37
R4 (Long Breakout) – $264.42
R5 (Breakout Target 1) – $265.65
R6 (Breakout Target 2) – $266.14

S1 – $261.97
S2 – $261.62
S3 (Range Support – Buy) – $261.27
S4 (Short Breakout) – $260.22
S5 (Breakout Target 1) – $258.99
S6 (Breakout Target 2) – $258.50

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

Central Pivot Point – $261.87
R1 – $267.71
R2 – $270.67
R3 – $276.51
R4 – $282.35

S1 – $258.91
S2 – $253.07
S3 – $250.11
S4 – $247.15

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