Airplane maker Boeing (BA) remains on the radar Monday after Reuters reported Friday that the company told suppliers it plans to slow the output goal of its troubled narrow-body 737 jet for three months.

People familiar with the matter said an updated Boeing supplier schedule circulated within 💝the industry showed the company has targeted 737 output to reach 42 in September, whereas, it had previously intended to reach that goal by June.

One of world’s largest plane makers, Boeing, has come under intense scrutiny from aviation regulators and lawmakers this year following several safety incidents and production mishaps, resulting in 澳洲幸运5官方开奖结果体彩网:the company significantly reducing its output while it develops a plan to🅺 improveꦬ manufacturing and quality control processes. 

In January, the Federal Aviation Administration (FAA) grounded Boeing’s 澳洲幸运5官方开奖结果体彩网:expansion plans for its best-selling 737 MAX after the jet type flown by Alaska Airlines (ALK) was involved in a near-fatal accident that month following a door plug detaching mid flight. Last week, Boeing said it 澳洲幸运5官方开奖结果体彩网:delivered 24 planes in May, down from 50 in May 2023, highlighting the fallout from its scaled back production.

Looking further ahead, Boeing’s supplier schedule projects output to reach 47 j🤡ets a month by March next year, much slower from its earlier target of achieving that goal by January. Moreover, it now sees output hitting 52 in September 2025, a target it had previously expected to reach in June next year.

Monitor These T🐭wo Key Chart Levels in Boei༒ng Stock

After topping out in late December last year, Boeing shares have traded within a 澳洲幸运5官方开奖结果体彩网:descending channel, with the price touching the pattern’s upper and lower 澳洲幸运5官方开奖结果体彩网:trendlines several times since then. It’s also worth pointing out that the 50-day moving average (MA) crossed below the 200-day MA in early March to form an ominous 澳洲幸运5官方开奖结果体彩网:death cross, a chart pattern that often signals lower p☂rices.

More recently, the shares found selling pressure near the channel’s top trendline but appear to be holding support near the 50-day MA. If the stock moves higher from these levels, investors should monitor the $197 level, an area where the price may encounter overhead 澳洲幸运5官方开奖结果体彩网:resistance from a 澳洲幸运5官方开奖结果体彩网:horizontal line that sits just below the downward sloping 200-💎day MA. 🦩If selling continues, watch if buyers can defend the 2024 low at $159.70.

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