Is Boeing ready for a stock price increase? (04/10/2023)Rating agency Fitch has upgraded its outlook on Boeing's prospects to "positive". Previously, the company's management announced their plans to increase production of the 737 model to a record 57 aircraft per month by 2025. These ambitious plans may lead to an increase in the aircraft manufacturer's revenue and the elimination of losses, along with a rise in dividends in the long term.
Let's take a look at the Boeing chart (NYSE: BA) for today and see if there are any indications of how the stock will react to the news.
On the D1 timeframe, resistance has formed at 193.02, with support at 186.97. If quotes consolidate above 190.00, an upward trend will likely begin.
On the H1 timeframe, the short-term target for the price increase is around 198.88, while in the medium term, it could reach 210.70.
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