Boeing Could Land 200-Plus Jet Order From India’s Akasa Air

Boeing Co. (NYSE:BA) stock traded nearly 1% higher Friday as industrial stocks outperformed the broader market. The S&P 500 gained 0.08%, while the Nasdaq was little changed.The industrial sector rose 0.37%, making it the second-best-performing sector Friday. However, broader market breadth remained weak, with only two of 11 sectors trading higher.Akasa Air In Talks For More Than 200 Boeing 737 Max JetsSeparately, Akasa Air is in talks to order more than 200 Boeing 737 Max jets as the Indian carrier looks to expand its fleet beyond 2032, Bloomberg reported Friday, citing people familiar with the matter.Akasa already has 183 unfilled 737 Max orders. A decision on the potential new order could come in early 2027, with final terms possible later that year. However, the talks remain preliminary and may not result in a deal.The proposed deal would be worth billions of dollars before customary discounts and would further strengthen Boeing’s position in India’s fast-growing aviation market.Technical AnalysisBoeing remains under pressure from a longer-term technical perspective.The stock is trading about 3.1% below its 20-day simple moving average of $204.92. It is also about 10.2% below its 200-day SMA of $221.08.The moving-average structure remains bearish. Boeing’s 20-day SMA is below its 50-day SMA. The stock also formed a “death cross” in September after its 50-day average fell below the 200-day average.Momentum also remains weak. The moving average convergence divergence indicator, or MACD, is below its signal line, while the histogram is negative. That suggests the recent rebound has yet to develop stronger momentum.Resistance sits near $215.50, close to the 50-day SMA of $214.38 and the 50-day exponential moving average of $211.62.Support is near $187.50, around Boeing’s September swing low. The stock’s 52-week low is $176.77. See More: Top Value Stocks Analyst OutlookThe stock carries a Buy consensus rating with an average price forecast of $272. The forecasts range from $250 to $305 across 12 analysts.Jefferies maintained a Buy rating on Sept. 21 but lowered its price forecast to $265. Bank of America Securities maintained a Buy rating and a $270 price forecast on Sept. 18. Argus Research upgraded Boeing to Buy on Aug. 11 with a $265 price forecast.Benzinga Edge RankingsBenzinga Edge gives Boeing a Momentum score of 25.2 and a Value score of 26.46.The weak Momentum score is consistent with the stock trading below several key moving averages. Its Value score also remains weak relative to the broader market.Together, the readings show that Boeing still faces technical and valuation headwinds despite Friday’s rebound.Top ETF ExposureBoeing is a major holding in several aerospace and defense ETFs.The Corgi Aerospace & Commercial Aviation ETF (NASDAQ:AV) has a 4.17% weighting in Boeing. The iShares U.S. Aerospace & Defense ETF (BATS:ITA) has a 9.58% weighting, while the Invesco Aerospace & Defense ETF (NYSE:PPA) has a 7.20% weighting.That exposure means flows into or out of those funds can also affect demand for Boeing shares.Price ActionBA Stock Price Activity: Boeing shares were up 0.86% at $198.49 at the time of publication Friday, according to Benzinga Pro data.Photo via Shutterstock Read Also: US Airlines Oppose More China-US Flights as Xi Jinping Pushes for Expanded Air Links: Report