Boeing gains as 737 Max could be back in the air in 2020

4:15 PM October 16, 2020

Europe’s aviation regulator has declared Boeing’s (BA.US) 737 Max aircraft safe to fly. The machine was grounded in March 2019 after two crashes that killed 346 people. An executive director of the European Union Aviation Safety Agency told that he’s satisfied with the changes made to the aircraft. Therefore, 737 Max could return to the region’s skies before the end of 2020. It is worth mentioning that the announcement was released even though the company hasn’t implemented a software upgrade that the agency demanded. The development of a so-called synthetic sensor to add redundancy might take up to two years

Boeing (BA.US) shares are currently adding roughly 3%. Stock managed to break above the local downward trend line as well as 50-day moving average (purple line). Some might view that as a promising sign, even though the price is still well below the 38.2% Fibo retracement of the February-March sell-off. Source: xStation5

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