Boeing (BA.US) stock rose more than 5% after Reuters reported that the aircraft manufacturer is close to finalizing a multi-billion dollar order for its 737 MAX jets from Southwest Airlines (LUV.US) which is the major Boeing 737 operator. A source told Reuters the deal could potentially top 100 firm orders plus significant options. This would be the biggest order for the 737 MAX since the aircraft's safety ban was lifted.
Boeing (BA.US) stock managed to break above the upper limit of the ascending channel and the resistance at $244.09 during yesterday's session. Today one can see that the upward move is being continued. If the current sentiment prevails, the upward move could be extended to the $269.50 handle or even $297.40, where lows from January 2020 are located. Source: xStation5
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