Boeing shares gain the most in 1 1/2 months on Monday, company delivers its first 787-10 Dreamliner to Singapore Airlines

Boeing Company (BA) was reported to have delivered its first 787-10 jet to Singapore Airlines over the weekend. Goh Choon Phong, the airlines Chief Executive Officer, received the ceremonial key to the jet on the tarmac at Boeing’s facility in South Carolina where the carbon composite aircraft is manufactured.

Boeing shares closed higher for a second consecutive trading session on Monday. It has also been the sharpest daily surge since February 15th. The stock went up 2.48% ($7.97) to $328.97, with the intraday high and the intraday low being at $331.94 and $323.59 respectively.

In the week ended on March 25th the shares of the aircraft maker lost 2.87% of their market value compared to a week ago, which marked a second consecutive period of decrease.

The stock has pared its loss to 9.18% so far during the current month, following a 2.21% surge in February. The latter has been a sixth straight month of gains.

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

Being 223 feet (68 meters) in length, the 787-10 Dreamliner was positioned before a line of 10 787 jets in various stages of completion, Reuters reported. The new jet is 18 feet (5.5 meters) longer compared to Boeings 787-9 and is capable of carrying as many as 330 passengers, or 88 more compared to the companys 787-8 plane and 40 more compared to its 787-9 jet.

Priced at $326 million, the 787-10 Dreamliner has a range of 6 430 nautical miles, or 11 910 kilometers.

Singapore Airlines is expected to put the new jet to service on routes to Osaka, Japan and Perth, Australia as early as May. Last year the airline ordered a total of 49 787-10s.

According to Singapore Airlines Chief Executive, the company has been the first carrier in Southeast Asia to add Boeing’s 747 jumbo jet to its fleet in 1972. And, as of now, the airline is the first in the world to operate all three models of Boeings 787 Dreamliner family, Goh Choon Phong said.

According to CNN Money, the 23 analysts, offering 12-month forecasts regarding Boeing Company’s stock price, have a median target of $395.00, with a high estimate of $470.00 and a low estimate of $240.00. The median estimate is a 20.07% surge compared to the closing price of $328.97 on March 26th.

The same media also reported that 12 out of 25 surveyed investment analysts had rated Boeing Company’s stock as “Buy”, while 10 – as “Hold”.

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 – $329.74
R2 – $330.50
R3 (Range Resistance – Sell) – $331.27
R4 (Long Breakout) – $333.56
R5 (Breakout Target 1) – $336.24
R6 (Breakout Target 2) – $337.46

S1 – $328.20
S2 – $327.44
S3 (Range Support – Buy) – $326.67
S4 (Short Breakout) – $324.38
S5 (Breakout Target 1) – $321.70
S6 (Breakout Target 2) – $320.48

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

Central Pivot Point – $327.08
R1 – $335.83
R2 – $350.67
R3 – $359.42
R4 – $368.18

S1 – $312.24
S2 – $303.49
S3 – $288.65
S4 – $273.82