Micron, Boeing Lead Five Stocks Near Buy Points
Boeing Stock
Ryanair CEO Michael O'Leary said he expects Boeing to increase its monthly output of 737 MAX jets to 42 per month from 38 by October, Reuters reported on Wednesday. That implies that the FAA will lift its 38-per-month cap on Boeing's production.
On Monday, Korean Air announced its commitment to purchase 103 Boeing jets to modernize its fleet. Boeing said the order would support 135,000 jobs in the U.S.
That followed a report from Bloomberg the prior week that Boeing was near a deal to sell 500 commercial jets to China.
BA stock has a new 242.69 buy point from a five-week flat base, according to a weekly MarketSurge chart analysis. Boeing has been moving sideways in recent weeks after a big move up following a May 2 breakout. Shares are holding above the 21-day exponential average.
Boeing cleared a trendline early entry last week. Investors could probably use Friday's high of 238.05 as an early buy point now.
Boeing is the top-performing stock in the Dow Jones Industrial Average, rising 32.6% for the year, which puts its just ahead of Goldman Sachs Group (GS) and Nvidia.
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