Boeing shares are moving sideways, as investors brace themselves for the company’s Q2 earnings report. Boeing is set to release the numbers on Wednesday, and the outcome should allow for more volatility and potential breakouts from the current range.
At the moment, Boeing shares are finding resistance at $148/share and support around $140/share. Stronger than expected earnings and revenues could mean an upside break past the range resistance and a climb to the next ceiling at $156/share while weak data could lead to a selloff back to $140/share.
The 100 SMA is above the 200 SMA, indicating that the path of least resistance is to the upside in terms of technicals but the earnings figures could ultimately dictate the stock’s direction this week.
Boeing Shares Earnings Forecast
The consensus estimates call for $2.13 in EPS, as well as $24.19 billion in revenue. The company said Friday morning that it will take a charge of $536 million ($0.77 per share) related to higher engineering and manufacturing costs for the new KC-46A tanker it is building for the U.S. Air Force. As far as revenue, the consensus forecasts have the aerospace giant posting $23.80 billion, which would represent a gain of 9% year-over-year.