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- Aeroflot has recently purchased 10 Boeing 777-300 ER from an Irish company
- Technical indicators are favoring the upside trend of BA Stock. It is currently trading near $190 with a gain of 0.84%
Boeing is a multinational corporation which designs, manufactures, and sells aircraft, rockets, and satellites. The company’s stock has had a tumultuous recent history due to a number of factors, including the ongoing COVID-19 pandemic and two high-profile crashes involving its 737 MAX aircraft.In 2020, the COVID-19 pandemic led to a sharp decline in travel demand, which in turn caused a decline in orders for new aircraft. This had a negative impact on Boeing’s financial performance and stock price. Additionally, the two crashes involving the 737 MAX, which resulted in the deaths of 346 people, led to the grounding of the aircraft and regulatory scrutiny. This also had a negative impact on the company’s financial performance and stock price.Despite these challenges, Boeing has taken steps to address the issues that led to the crashes and to improve its safety practices. Aeroflot has recently purchased a few Boring from an Irish company.
The Boeing company has a market cap of $116.4 Billion with a negative EPS. It is currently inches away from its all time high. Various analysts are expecting a strong growth in the asset price in the future.
Bulls Are Ready To Push The Price
The weekly technical chart of the Boeing Company suggests a consolidated trend in price. On coming to the daily chart the asset price is trading near $195 with a gain of 2.34% in the intraday session. There is an upside parallel channel formed in the price which can push the price. If it falls below the channel then it will be a fall in price. The upside trend of price can see a halt near $210. Meanwhile the downside can see a bounceback from $180. It is currently trading above the 50 and 100 DMA. There is a positive crossover in the DMA which can push the price to a new high,
Conclusion
The Boeing Company has been in an upside trend from the past few months. BA stock price is currently in an upside momentum and can see a new high in the future.
Technical Levels
Major Resistance:$220
Major Support:$160
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
