BOEING BREAKS $100B ANNUAL REVENUE MARK FOR THE FIRST TIME, STOCK ABOVE ALL MAs
Boeing is currently trading at 386.47-higher by 5.91% as compared to the previous closing price. The aerospace giant’s shares rose today after the company reported year-end results that exceeded Wall Street’s expectations, with record revenue and airplane deliveries driving the blowout.
Boeing generated adjusted EPS of $5.48 for the fourth quarter of 2018. The EPS was above the consensus estimates of $4.57. Revenue of $28.3 billion was also exceeded the market expectation by more than $1 billion.
Boeing reported $101.1 billion in annual revenue, breaking the $100 billion mark for the first time. The company also gave a 2019 full-year earnings and revenue forecast above current consensus. The company expects 2019 earnings of $19.90 to $20.10 per share. The market was expecting $18.31 a share for full-year 2019 earnings.
On the technical front, the current price is above the MA5. The current price is above the upper band of the Bollinger Bands and is heading upwards. The RSI is currently at 74.59% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 386 TAKE PROFIT AT 389 STOP LOSS AT 385