Boeing shares gain for a fourth straight session on Friday, 737 MAX simulator software already corrected, company says

According to a spokesperson for Boeing Co (BA), corrections have already been made to simulator software mimicking the flying experience of Boeing’s 737 MAX aircraft. At the same time, additional information has been provided to device operators.

Boeing shares closed higher for a fourth consecutive trading session in New York on Friday. The stock edged up 0.34% ($1.21) to $355.02, after touching an intraday high at $359.99, or a price level not seen since May 8th ($361.52).

Shares of Boeing Company have surged 10.08% so far in 2019 compared with a 14.07% gain for the benchmark index, S&P 500 (SPX).

In 2018, Boeing’s stock went up 9.36%, thus, it outperformed the S&P 500, which registered a 6.24% loss.

The changes are meant to make sure that the simulator experience reflects different flight conditions and to enhance the simulation of force loads on the manual trim wheel that helps control the jet, the company representative said.

“Boeing is working closely with the device manufacturers and regulators on these changes and improvements, and to ensure that customer training is not disrupted,” Boeings spokesman Gordon Johndroe was quoted as saying by Reuters.

According to a report by the New York Times, despite that Boeing does not build the simulators, the US plane maker does provide the underlying information on which they are designed and built.

According to CNN Money, the 22 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $434.50, with a high estimate of $505.00 and a low estimate of $367.00. The median estimate represents a 22.39% upside compared to the closing price of $355.02 on May 17th.

The same media also reported that 14 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Buy”, while 8 – as “Hold”.

Weekly Pivot Levels

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

Central Pivot Point – $350.66
R1 – $364.33
R2 – $373.63
R3 – $387.30
R4 – $400.96

S1 – $341.36
S2 – $327.69
S3 – $318.39
S4 – $309.08