United Air shares gain for a third straight session on Monday, air carrier orders four Boeing 787 wide-body jets

July 17, 2018 9:24 am

According to an announcement by United Continental Holdings Inc (UAL) on Monday, the air carrier intends to purchase four new 787-9 wide-body jets from Boeing Company (BA), as it seeks to bolster the efficiency of its fleet. The third-largest US airline said it expected to have the aircraft delivered in 2020.

United Air shares closed higher for a third consecutive trading session in New York on Monday. The stock edged up 0.22% ($0.16) to $72.26, after touching an intraday high at $72.75, or a price level not seen since June 25th ($72.80).

Shares of United Continental Holdings Inc have risen 7.21% so far in 2018 compared with a 4.67% gain for the underlying index, S&P 500 (SPX).

In 2017, United Air’s stock retreated 7.52%, thus, it underperformed the S&P 500, which registered a 19.42% return.

Evaluated at approximately $1.1 billion at current list prices, the arrangement was announced at the Farnborough International Public Airshow in England.

Additionally, United Airlines said it had ordered 25 new E-175 jets from Embraer SA, which would replace 25 CRJ-700 planes.

According to Reuters, the airline had already discussed with Boeing and Airbus a potential purchase of long-haul, wide-body passenger jets, which would replace 50 Boeing 767s.

According to CNN Money, the 17 analysts, offering 12-month forecasts regarding United Air’s stock price, have a median target of $80.00, with a high estimate of $130.00 and a low estimate of $73.00. The median estimate represents a 10.71% upside compared to the closing price of $72.26 on July 16th.

The same media also reported that 11 out of 19 surveyed investment analysts had rated United Air’s stock as “Hold”, while 7 – as “Buy”.

Daily and Weekly Pivot Levels

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

R1 – $72.37
R2 – $72.49
R3 (Range Resistance – Sell) – $72.60
R4 (Long Breakout) – $72.94
R5 (Breakout Target 1) – $73.33
R6 (Breakout Target 2) – $73.50

S1 – $72.15
S2 – $72.03
S3 (Range Support – Buy) – $71.92
S4 (Short Breakout) – $71.58
S5 (Breakout Target 1) – $71.19
S6 (Breakout Target 2) – $71.02

By using the traditional method of calculation, the weekly levels of importance for United Continental Holdings Inc (UAL) are presented as follows:

Central Pivot Point – $70.76
R1 – $73.58
R2 – $75.06
R3 – $77.88
R4 – $80.70

S1 – $69.28
S2 – $66.46
S3 – $64.98
S4 – $63.50

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