Boeing resumes aircraft deliveries to China despite challengesBoeing Co. has restarted wide-body aircraft deliveries to China after a brief suspension due to inspections by Chinese regulators, marking a significant development for the US aircraft manufacturer. The resumption of deliveries is particularly crucial as Boeing has faced ongoing disruptions since 2019, primarily due to the fallout from two crashes involving the MAX 8 aircraft and growing geopolitical tensions between Washington and Beijing.
This latest development could provide a much-needed boost to Boeing, which has been grappling with safety and flight quality challenges that have affected its delivery schedules and financial performance. Investors will likely receive the resumption well since it indicates potential stabilisation and progress in one of the company's key markets.
Technical analysis of Boeing Co. (NYSE:BA)
Looking at the stock chart of Boeing from a technical analysis perspective:
Timeframe : Daily (D1)
Current trend : the stock has been in a global uptrend since the end of June 2022
Resistance level : 193.40 USD
Support level : 162.75 USD
Current position : the stock is currently testing the uptrend's support line
Potential downtrend target : if a downtrend forms, the downside target could be at 150.50 USD
Short-term target : if the uptrend resumes and the stock breaks through the resistance at 193.40 USD, a short-term target could be set at 215.00 USD
Medium-term target : the price could rise to 230.00 USD if the upward momentum continues
Investors should monitor Boeing's stock closely, as the resumption of deliveries to China could catalyse further stock movement, reflecting the company's operational recovery and potential for regained footing in the international market.
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