Boeing shares gain for a second session in a row on Wednesday, 50 737MAX jets to be purchased by China Aircraft Leasing for $5.8 billion

China Aircraft Leasing Group Holdings Ltd was reported to be considering the purchase of 50 737MAX jets from Boeing Company (BA) at a total list price of $5.8 billion, so that it could meet demand for more efficient aircraft.

Boeing shares closed higher for a second consecutive trading session on Wednesday. The stock went up 0.68% ($1.29) to $192.38, after touching an intraday high at $193.38 and also a fresh all-time high. 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 2.53% 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%.

The 737MAX jets are expected to be delivered in stages until 2023.

China Aircraft Leasing said that the actual purchase price would be lower compared to the list price due to price concessions granted by Boeing.

According to a June 15th filing to the Hong Kong bourse, the aircraft lessors unit is to settle the deal by using internal resources, loans and other borrowings.

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 3.96% surge compared to the closing price of $192.38 on June 14th.

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 – $192.61
R2 – $192.85
R3 (Range Resistance – Sell) – $193.08
R4 (Long Breakout) – $193.79
R5 (Breakout Target 1) – $194.61
R6 (Breakout Target 2) – $194.96

S1 – $192.15
S2 – $191.91
S3 (Range Support – Buy) – $191.68
S4 (Short Breakout) – $190.97
S5 (Breakout Target 1) – $190.15
S6 (Breakout Target 2) – $189.80

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