Boeing (BA) was awarded a $2.02B cost-plus-fixed-fee, firm-fixed-price, indefinite-delivery/indefinite-quantity contract on Wednesday. Boeing stock rose in response.
“The contract provides for system upgrades for the F/A-18 and EA-18G aircraft, including Foreign Military Sales, or FMS, variants, and will provide for deliverables and services based on systems configuration set requirements consisting of all software and hardware required to implement new capabilities on the aircraft for the Navy and FMS customers.” – Seeking Alpha
Boeing (BA) and United Airlines (UAL) recently announced the carrier is investing in its future fleet with an order for 100 787 airplanes, with the option to purchase 100 more. The deal is the largest 787 Dreamliner order in Boeing history. United is also purchasing 100 737 MAX jets, exercising 44 existing options and placing 56 new orders.
Boeing Stock
Buy signals triggered today after the dip from highs, (-3.95%) or 7.75 points. While Boeing closed down on the day, buyers stepped up at the 9ema. We’re looking for follow through on above average volume over the next few trading days.
We’re watching for price action to trigger a daily buy signal confirmation over the next few trading days. Stochastic RSI is already. showing a bullish cross on the daily chart.
Boeing stock (BA) gained 4.1% and is extended from the 5% buy zoneof a cup base with a 173.95 buy point. Shares of the aerospace, defense and rocket giant rose on news that management said it sees positive signs for a market recovery.
Boeing Aerospace is more than you think.
Stock Market Today
“On Thursday, the Dow Jones Industrial Average fell 1.05% and the S&P 500 declined 1.45%. The Nasdaq dumped 2.2% while the small-cap Russell 2000 lost 1.3%.”
“Volume rose on both the Nasdaq and S&P 500 vs. the prior session. The increased volume results in a new distribution day on both indexes. So, the distribution count is even more elevated, a bearish sign.”
“IBD’s stock market outlook remains at “uptrend under pressure” following sharp losses in recent sessions. That means investors should be maintaining cautious and defensive stances, with an already reduced market exposure. IBD readers should be avoiding most breakouts, unless they occur in stocks with top-notch fundamentals and technicals.”
Even so, it’s best to start with a smaller position due to the tendency for breakouts to quickly fail. Meanwhile, further losses on the major stock indexes would push them below their early November lows, which are key levels to watch.
Instead of tuning out in this difficult market environment, investors should be using the relative strength line to find the next cycle of market leaders. Remember, the RS line measures a stock’s price performance vs. the S&P 500 and is the blue line on every IBD chart.
If the market is down, good stocks will outperform by treading water. When the market rebounds, stocks with the best relative strength should bounce back even stronger than the market.”The Innovator IBD 50 ETF (FFTY) lost 1.5% Thursday as the ETF hit another new low. In the IBD 50, retailers Deckers Outdoor (DECK) and Ulta Beauty (ULTA) were rare gainers, rising 1.7% and 1.05%, respectively. Both stocks are rebounding from their 50-day moving average lines.
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Happy Trading,
Vinny
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