Boeing’s share price opened the year with a series of gap downs. These gap downs are yet to be retraced, as some of the gains of Boeing in 2023 have been lost. The opening price of Boeing in 2024 was $257.29. It has been an awful year for Boeing Investors as the current price stands at $148.65 as at the time of this writing.
For the past two months, Boeing machinists have been on strike. Members of the International Association of Machinists accepted an offer that included 38% pay increases, along with a ratification bonus that workers can elect to use as part of their retirement savings. The union rejected a previous offer from Boeing that included a 35% pay hike, extending the strike that began on Sept. 13.
The striking employees, whose absence had put production at a near-standstill, can return to work next week Wednesday “and must return by beginning of their shift on Nov. 12, 2024,” according to the union and the company. The last 3 months candle sticks closed bearish. There are indications of a possible rally as striking workers resume in 6 days. $BA price has been consolidating since October 10, at a support level at $146.89. We might see price rally to $241 in 2025.
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