Boeing shares gain the most in two weeks on Monday, an order for 75 jets confirmed by Avolon

An order for 75 Boeing jets has reportedly been confirmed by Avolon, a Dublin-based aircraft leasing company. According to a statement by Bohai Capital, Avolons parent, the firm may purchase additional 20 aircraft. Avolon expects to take delivery of the jets between 2021 and 2024.

Boeing shares closed higher for the fourth time in the past nine trading sessions on Monday. It has also been the sharpest daily surge since November 2nd. The stock went up 0.90% ($2.37) to $264.63, after touching an intraday high at $265.57, or a price level not seen since November 9th ($266.75).

In the week ended on November 19th the shares of the aircraft maker added 0.54% to their market value compared to a week ago, which marked the fifth gain out of seven weeks. Yet, it has been the smallest increase since the week ended on August 27th.

The stock has extended its advance to 2.58% so far during the current month, following a 1.48% surge in October. The latter has been a second straight month of gains.

For the entire past year, the shares of the NYSE-listed plane manufacturer rose 7.67%. The stock has gained another 69.98% so far in 2017.

Founded by CEO Domhnal Slattery, Avolon has agreed to purchase 55 Boeing 737 MAX 8 jets as well as 20 Boeing 737 MAX 10 aircraft. A filing by Bohai Capital on Sunday revealed that additional 20 737 MAX 8 planes might be ordered.

The news was almost in line with a memorandum of understanding, which Avolon had signed during the Paris Airshow in June, involving the purchase of 75 737 MAX 8 jets.

Bohai also said that the confirmed part of Avolons order would be valued at $8.7 billion at list prices, while, with the inclusion of the 20 additional aircraft, the total value of the deal would become $11 billion.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $290.00, with a high estimate of $350.00 and a low estimate of $203.00. The median estimate is a 9.59% surge compared to the closing price of $264.63 on November 20th.

The same media also reported that 13 out of 27 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 12 – as “Buy”.

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 – $264.88
R2 – $265.12
R3 (Range Resistance – Sell) – $265.37
R4 (Long Breakout) – $266.10
R5 (Breakout Target 1) – $266.96
R6 (Breakout Target 2) – $267.33

S1 – $264.38
S2 – $264.14
S3 (Range Support – Buy) – $263.89
S4 (Short Breakout) – $263.16
S5 (Breakout Target 1) – $262.30
S6 (Breakout Target 2) – $261.93

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

Central Pivot Point – $262.48
R1 – $264.82
R2 – $267.37
R3 – $269.71
R4 – $272.04

S1 – $259.93
S2 – $257.59
S3 – $255.04
S4 – $252.48