Boeing shares close higher on Thursday, delivery of Boeing’s KC-46 air tanker to be delayed, US Air Force says

According to a statement by the US Air Force earlier this week, the first delivery of Boeings KC-46 aerial refueling tankers would probably occur later than expected. The delivery was scheduled for Q2 this year. The Air Force also said that the delay would not lead to additional program cost to the taxpayer.

Boeing shares closed higher for the second time in the past seven trading sessions on Thursday. The stock went up 0.49% ($1.69) to $348.73, after touching an intraday high at $352.50, or a price level not seen since March 6th ($355.21).

In the week ended on March 4th the shares of the aircraft maker lost 3.36% of their market value compared to a week ago, which marked the second drop out of nine weeks.

However, due to yesterdays rebound, the stock has pared its loss to 3.72% so far during the current month, following a 2.21% surge in February. The latter has been a sixth straight month of gains.

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

“This assessment is based on known risks and predicted impacts associated with airworthiness certifications and slower than expected flight test execution”, the US Air Force said in a statement on Tuesday, cited by Reuters.

“There is always risk on any development program, we’re relying on our partnership with the Air Force to help mitigate those risks, complete KC-46 testing and deliver 18 game-changing tankers to them as quickly as possible”, Boeing said in a response a day later.

The plane maker also said that a range of delivery dates had been discussed with the Air Force.

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 a 13.27% surge compared to the closing price of $348.73 on March 8th.

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 – $349.51
R2 – $350.30
R3 (Range Resistance – Sell) – $351.08
R4 (Long Breakout) – $353.43
R5 (Breakout Target 1) – $356.18
R6 (Breakout Target 2) – $357.40

S1 – $347.95
S2 – $347.16
S3 (Range Support – Buy) – $346.38
S4 (Short Breakout) – $344.03
S5 (Breakout Target 1) – $341.28
S6 (Breakout Target 2) – $340.06

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

Central Pivot Point – $350.52
R1 – $365.75
R2 – $386.82
R3 – $402.05
R4 – $417.27

S1 – $329.45
S2 – $314.22
S3 – $293.15
S4 – $272.07