Boeing may test the bottom from March

Commercial airline revenues fell a staggering 56% year on year, held back by declining demand for the 737 MAX passenger plane. After the news came the reaction to the sale, throwing the space giant to a 5-week low.

The European Commission recently authorized Boeing to return the troubled 737 MAX jet to the skies, but the US Federal Administration (FAA) has determined that the software “fix” for some aircraft is not “adequate”. However, the aircraft must renew its certificate of airworthiness before the end of the year. However, the pandemic took its place at least two more years before returning to traditional demand.

Wall Street maintains an extremely positive consensus on “Moderate buying” based on 7 “buy” and 8 “hold” recommendations. Surprisingly, no analyst is telling shareholders to close positions, although earnings may not return to pre-COVID levels for years.

After the fall in March, the share price unsuccessfully tried to recover losses. Then we have a downward range, which at the same time increases the chances of the decline that began in June, eventually testing the level of March.