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BOEING STRONGLY BULLISH ON $100B REVENUE GUIDANCE, STRONG EPS - Capital Street FX

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    • BOEING STRONGLY BULLISH ON $100B REVENUE GUIDANCE, STRONG EPS
24-Oct
19:57 IST

Boeing is currently trading at 361.48-higher by about 3.45% as compared to the previous closing. In Pre-market trading on Wednesday, the stock was trading as high as 4.68%. The stock has cut some of its earlier gains after the opening bell.

Boeing reported strong Q3 earnings on Wednesday on the back of a robust defense business and more efficient commercial aircraft production. The company also raised its 2018 earnings forecast, in what looks to be a record year for revenue.

The aircraft maker reported adjusted EPS of $3.58-above the market expectation of $3.47 per share. The company’s revenues for Q3 were $25.15 billion- above the market estimates by $1billion.

Boeing raised its full-year 2018 earnings forecast to a range of $14.90 to $15.10, up from its previous guidance of $14.30 to $14.50. Boeing may see its full-year revenue top $100 billion for the first time, as well.

On the technical front, the RSI is currently at 47.95% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is below the middle line of the Bollinger bands and is heading upwards.

Overall Bias is Positive and short-term trades can be initiated with tight Stop Loss and Profit targets.

TRADE SUGGESTION-LIMIT BUY AT 360.00  TAKE PROFIT AT 364.50  STOP LOSS AT 357.70

 

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