After the lockdown made the airline industry lose billions of dollars as a result of planes being grounded, the ease of lockdown gave up to the airline industry as jobs were restored and the tourism industry try to regain its balance. Also, the Boeing 737 max was grounded worldwide between March 2019 and December 2020. This was a result of the two crashes that claimed 346 lives. The Boeing 737 Max was recalled across the world due to a series of failures. The tourism industry has been badly affected by the pandemic, but hope might be rising as vaccines are being administered across the world.
Since the ease of lockdown, the $BA daily chart has been showing higher lows and higher highs. As the price is currently at $212.14, we expect a bounce. We are hopeful the price will appreciate in the coming weeks as Boeing delivers 22 jets in August, 737 MAX ‘white tails’ nearly gone (yahoo.com). RSI has continuously shown that the price has been oversold in the past few days. A $BA price rally above $234.90 could occur, as the trendline has been broken to the upside. Also, the company claims that Boeing’s Aircraft Demand Forecast Bullish Despite Short-Term Headwinds (yahoo.com), as the press release, shows the demand for 19,000 new commercial aircraft with a book value of $3.2trillion over the next 10years.