Boeing shares gain for a third session in a row on Friday, Aseman Airlines signs final deal for 30 737 MAX jets

As reported by the Iranian state news agency IRNA, Aseman Airlines has signed a final agreement with Boeing Company in Tehran on June 10th to purchase 30 737 MAX jets. A tentative deal between the two companies had been signed in April.

Boeing shares closed higher for a third consecutive trading session on Friday. The stock inched up 0.05% ($0.10) to $190.03, with the intraday high and the intraday low being at $190.99 and $189.25 respectively. In the week ended on June 11th the shares of the aircraft maker lost 0.11% of their market value compared to a week ago, which marked the first drop in the past three weeks, but yet, the smallest one since the week ended on January 15th. However, the stock has extended its advance to 1.28% so far during the current month, following a 1.51% surge in May. The latter has been a second consecutive monthly gain, but yet, the smallest one since September 2015. For the entire past year, the shares of the NYSE-listed plane manufacturer gained 7.67%.

“I am very pleased that after a year of negotiation with Boeing, the contract to buy 30 Boeing 737s was signed today”, Hossein Alaei, Chief Executive of Aseman Airlines said at the event, cited by IRNA.

According to Alaei, Irans third-biggest airline intends to order another 30 aircraft of the same Boeing model, after the delivery of the first set was completed. The deal for the 60 jets would be valued at $3 billion, IRNA said. The airline is expected to pay 5% of that amount and seek funding for the remainder.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $200.00, with a high estimate of $220.00 and a low estimate of $130.00. The median estimate is a 5.25% surge compared to the closing price of $190.03 on June 9th.

The same media also reported that 10 out of 27 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 10 – as “Buy”. On the other hand, 3 analysts had recommended selling the stock.

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 – $190.19
R2 – $190.35
R3 (Range Resistance – Sell) – $190.51
R4 (Long Breakout) – $190.99
R5 (Breakout Target 1) – $191.55
R6 (Breakout Target 2) – $191.78

S1 – $189.87
S2 – $189.71
S3 (Range Support – Buy) – $189.55
S4 (Short Breakout) – $189.07
S5 (Breakout Target 1) – $188.51
S6 (Breakout Target 2) – $188.28

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

Central Pivot Point – $189.16
R1 – $191.94
R2 – $193.84
R3 – $196.62
R4 – $199.39

S1 – $187.26
S2 – $184.48
S3 – $182.58
S4 – $180.67