Boeing shares rebound on Tuesday, company’s services division inks deals worth almost $1 billion

Boeing’s services unit, which is involved in jet maintenance, repair and overhaul, data analytics as well as pilot training, said on Tuesday it had inked deals worth almost $1 billion, as it aims to bolster its annual revenue to $50 billion over a period of at least five years.

Boeing shares closed higher for the first time in the past three trading sessions on Tuesday. The stock went up 3.66% ($12.03) to $340.91, with the intraday high and the intraday low being at $341.65 and $318.12 respectively.

In the week ended on February 4th the shares of the aircraft maker added 1.66% to their market value compared to a week ago, which marked a fifth consecutive period of gains.

The stock has pared its loss to 3.80% so far during the current month, following a 20.16% surge in January. The latter has been a fifth straight monthly gain and also the largest one since July 2017.

For the entire past year, the shares of the NYSE-listed plane manufacturer rose 89.43% following another 7.67% surge in 2016.

The agreements include landing gear exchange deals with Malaysia Airlines and ANA Holdings Inc of Japan as well as a DHL order for one 767-300ER converted freighter.

Revenue at Boeings services division surged 5.5% to $14.6 billion last year, while according to Stan Deal, Boeing Global Services Chief Executive, the rate of growth in 2018 will probably be even more impressive.

According to Deal, the $50 billion revenue objective at the division could be accomplished during the upcoming five to ten years, while it would “clearly involve” acquisitions.

The revenue split in Boeings services unit is about 50% military and 50% commercial services as of now, but however, a shift in that balance towards commercial could be expected in the future, Deal pointed out.

According to CNN Money, the 22 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $353.50, with a high estimate of $435.00 and a low estimate of $240.00. The median estimate is a 3.69% surge compared to the closing price of $340.91 on February 6th.

The same media also reported that 12 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Hold”, while 11 – 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 – $343.07
R2 – $345.22
R3 (Range Resistance – Sell) – $347.38
R4 (Long Breakout) – $353.85
R5 (Breakout Target 1) – $361.41
R6 (Breakout Target 2) – $366.13

S1 – $338.75
S2 – $336.60
S3 (Range Support – Buy) – $334.44
S4 (Short Breakout) – $327.97
S5 (Breakout Target 1) – $320.41
S6 (Breakout Target 2) – $315.69

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

Central Pivot Point – $348.17
R1 – $362.19
R2 – $375.46
R3 – $389.48
R4 – $403.49

S1 – $334.90
S2 – $320.88
S3 – $307.61
S4 – $294.33