Latest news with #Ortberg
Yahoo
6 days ago
- Business
- Yahoo
Watch These Boeing Price Levels After Stock Jumps to Highest Level in 15 Months
Boeing shares closed at their highest level since February 2024 following news that the company will resume delivering planes to China next month. The stock broke above a flag pattern in Thursday's trading session, setting the stage for a continuation move higher. Investors should watch key support levels on Boeing's chart around $199 and $187, while also monitoring resistance levels near $234 and $ (BA) shares closed at their highest level since February last year on news that the company will resume delivering planes to China next month. CEO Kelly Ortberg said that the country's airlines had indicated they would begin taking first deliveries in June, with the development coming after China earlier this month reportedly reversed a ruling barring its airlines from taking deliveries of Boeing planes. Sentiment likely received an added boost after Ortberg said Boeing plans to increase production of its top selling 737 Max jets to 42 per month in the near-term and 47 per month by the end of the year. Boeing shares have rebounded 62% from their early-April low and trade 18% higher since the start of the year through Thursday's close, lifted by growing optimism that the jet maker could become a beneficiary of a broader U.S-China trade deal. The stock was the top gainer in the Dow Jones Industrial Average on Thursday, rising more than 3% to around $208. Below, we take a closer look at Boeing's chart and apply technical analysis to identify price levels worth watching out for. Boeing shares broke out above the neckline of a double bottom earlier this month before consolidating in a flag, a chart pattern that signals a continuation of the stock's strong uptrend that has been in play since early April. Indeed, the shares broke out from the flag in Thursday's trading session, setting the stage for another move higher. However, it's worth pointing out that, while the relative strength index confirms bullish price momentum, the indicator also cautions overbought condition with a reading above the 70 threshold. Let's identify key support and resistance levels on Boeing's chart. The first lower level to watch sits around $199. This area would likely provide solid support near a horizontal line that connects the low of the flag pattern with multiple peaks and troughs on the chart extending back to the fourth quarter of 2023. A close below this key level could see the shares descend to $187. Investors may look for entry points in this location near the double bottom pattern's neckline, an area on the chart that may flip from prior resistance into future support. A continuation of the stock's recent bullish momentum could trigger a move toward $234, where the shares may encounter overhead selling pressure near a range of corresponding price action that followed a stock gap in January last year. Finally, buying above this level could see Boeing shares take off to the $265 region. Investors who bought at lower prices may decide to lock in profits in this area near a series of trading activity situated around the December 2023 swing high. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Boeing Eyes June Delivery Restart in China
Boeing (NYSE:BA) jumps about 2.7% as CEO Kelly Ortberg says China will restart aircraft deliveries in June and outlines plans to boost 737 MAX output. Warning! GuruFocus has detected 6 Warning Signs with BA. Ortberg told Bernstein attendees that China, which paused Boeing deliveries in April over U.S. tariffs, has confirmed it will accept new jets next month. He noted that tariffs on Dreamliner components from Italy and Japanbuilt in South Carolinacan largely be reclaimed upon export. On production, Ortberg aims to lift 737 MAX rates from the mid-30s per month to 42 by mid-year and 47 by year-end, reversing the FAA-imposed cap of 38/month that followed last year's door-plug safety incident. Investors should care because resuming China deliveries unlocks a crucial growth market, while a higher MAX output targets backlog reduction and stronger free cash flow. With June deliveries set to resume and production targets looming, markets will be watching Boeing's next quarterly update and any FAA signals on restoring full production capacity. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Boeing Eyes June Delivery Restart in China
Boeing (NYSE:BA) jumps about 2.7% as CEO Kelly Ortberg says China will restart aircraft deliveries in June and outlines plans to boost 737 MAX output. Warning! GuruFocus has detected 6 Warning Signs with BA. Ortberg told Bernstein attendees that China, which paused Boeing deliveries in April over U.S. tariffs, has confirmed it will accept new jets next month. He noted that tariffs on Dreamliner components from Italy and Japanbuilt in South Carolinacan largely be reclaimed upon export. On production, Ortberg aims to lift 737 MAX rates from the mid-30s per month to 42 by mid-year and 47 by year-end, reversing the FAA-imposed cap of 38/month that followed last year's door-plug safety incident. Investors should care because resuming China deliveries unlocks a crucial growth market, while a higher MAX output targets backlog reduction and stronger free cash flow. With June deliveries set to resume and production targets looming, markets will be watching Boeing's next quarterly update and any FAA signals on restoring full production capacity. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Boeing Stock Rises as CEO Says Plane Deliveries to China Will Resume Next Month
Boeing CEO Kelly Ortberg said plane deliveries to China will resume next month. China recently reversed a ruling barring its airlines from taking Boeing planes. Boeing plans to ramp production of its 737 Max jets, which will require authorization from the FAA after safety concerns led the agency to impose production of Boeing (BA) jumped Thursday after CEO Kelly Ortberg said that aircraft deliveries to China will start again next month. Airlines in China "have indicated they're going to take deliveries,' Ortberg said during remarks at the Bernstein Strategic Decisions Conference, according to a transcript made available by AlphaSense. 'The first deliveries will be next month.' This comes after China earlier this month reportedly reversed a ruling barring its airlines from taking deliveries of Boeing planes. Ortberg said Boeing has been paying tariffs on parts imported from Italy and Japan to manufacture certain aircraft but that those costs can be recouped when the planes are re-exported. As a major U.S. exporter, Boeing could be a long-term winner of U.S. trade negotiations with China if the current 90-day tariff reduction leads to a broader deal, airline industry analyst Visual Approach Analytics said earlier this month. The Trump administration wants its trade partners to buy more American-made goods, and China has a need for more airplane supply, making Boeing a strong candidate to help offset a trade imbalance in large chunks. On that front, Ortberg said Boeing plans to increase production of its 737 Max jets to 42 per month in the near-term and 47 per month by the end of the year. That will require authorization from the Federal Aviation Administration, after the agency capped Boeing's production at 38 Max jets per month in response to an incident in which a door plug detached from an airplane mid-flight. Boeing shares climbed over 3% in recent trading Thursday. The stock is up 17% in 2025 so far. Read the original article on Investopedia Sign in to access your portfolio
NBC News
6 days ago
- Business
- NBC News
Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says
Boeing 's airplane deliveries to China will resume next month after handovers were paused amid a trade war with the Trump administration, CEO Kelly Ortberg said Thursday, as he brushed off the impact of tit-for-tat tariffs with some of the United States' largest trading partners this year. Ortberg had said last month that China had paused deliveries. 'China has now indicated … they're going to take deliveries,' Ortberg said. The first deliveries will be next month, he told a Bernstein conference on Thursday. Boeing, a top U.S. exporter whose output of airplanes helps soften the U.S. trade deficit, has been paying tariffs on imported components from Italy and Japan for its wide-body Dreamliner planes, which are made in South Carolina, Ortberg said, adding that much of it can be recouped when the planes are exported again. 'The only duties that we would have to cover would be the duties for a delivery, say, to a U.S. airline,' he said. Regarding the rapidly changing trade policies that have included several pauses and some exemptions, Ortberg said, 'I personally don't think these will be … permanent in the long term.' He reiterated that Boeing plans to ramp up production this year of its best-selling 737 Max jet, which will require Federal Aviation Administration approval. The FAA capped output of the workhorse planes at 38 a month last year after a door plug that wasn't secured when it left Boeing's factory blew out midair in the first minutes of an Alaska Airlines flight. Ortberg said the company could produce 42 Max jets a month by midyear and assess moving up to 47 a month about half a year later. The company's long-delayed Max 7 and Max 10 variants, the largest and smallest planes in the narrow-body family, are scheduled to be certified by the end of the year, he said. Many airline executives have applauded Ortberg's leadership since he took the reins at Boeing last August, tasked with stemming years of losses and ending reputational and safety crises, including the impact of two fatal Max crashes. CEOs have long complained about delivery delays from the company that left them short of planes during a post-pandemic travel boom. 'I do think Boeing has turned the corner,' United Airlines CEO Scott Kirby told CNBC's ' Squawk Box ' earlier Thursday. He said supply chain problems are limiting deliveries of new planes overall. 'We over-ordered aircraft believing the supply chain would be challenged,' he said.
