Boeing Co. (NYSE:BA) stock traded lower Monday as a broader risk-off move weighed on industrial stocks.
04%. Boeing’s decline appears tied to broader market weakness rather than a company-specific catalyst.
9%, ranking among the day’s weakest sectors. 6.
Boeing Expands 737 MAX Support Separately, Boeing and American Airlines Group Inc. (NASDAQ:AAL) completed the first landing gear exchange for a 737 MAX, Boeing announced Monday.
The milestone extends Boeing’s Landing Gear Exchange Program to the 737 MAX. Boeing supplied overhauled and certified main and nose landing gear assemblies with installation kits.
The program gives airlines an alternative to buying and storing costly spare landing gear. It can also reduce aircraft downtime by providing ready-to-install assemblies.
Boeing said it is expanding overhaul capacity and working with certified maintenance partners to increase global availability. The company also plans to expand its 737 MAX exchange inventory and add forward-exchange slots closer to airline operations.
Boeing said the program can reduce grounding risks, lower inventory costs and improve maintenance planning. See More: Top Value Stocks Technical Analysis Boeing remains below its major moving averages.
4% below its 50-day SMA. 5% below its 100-day and 200-day averages.
The 20-day SMA remains below the 50-day SMA. " Momentum also remains weak.
The MACD sits below its signal line, while the histogram is negative. 50.
Resistance is around $241. 13.
Recent bullish actions include Argus Research’s upgrade to Buy, Tigress Financial’s $305 price forecast and BNP Paribas’ upgrade to Outperform. 25.
The readings point to weak valuation characteristics and limited momentum. Overall, the technical picture remains cautious.
A sustained move above key moving averages would strengthen the bullish case. 15% Weight Significance: Because BA carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
26 at the time of publication Monday, according to Benzinga Pro data.
