Connect with us

Hi, what are you looking for?

Oracle of  Omaha Says – Investing and Stock NewsOracle of  Omaha Says – Investing and Stock News

Editor's Pick

Ryanair share price stays calm at a key level ahead of May 22

Ryanair (NASDAQ:RYAAY) share price has been one of the best-performing airline stocks in 2023 as the aviation sector rebounded. The stock jumped to a high of $98.83 on Tuesday after the company announced a big Boeing order. It has soared by more than 76% from the lowest level in 2022.

Ryanair’s large Boeing order

The most important transport news of this week was the decision by Ryanair to make a big order from Boeing. The total order will see the company start receiving as many as 300 planes between 2027 and 2023. 

In a statement, the company said that it expects to grow its traffic by about 80% in the next decade. It also expects to modernize its fleet by replacing its older 737NG planes. The announcement was important because of the tense relationship between the two companies. 

Most importantly, for investors, the deal is a sign that Ryanair is confident about the state of its business. It will also give it an edge against EasyJet, which made a firm order of 56 A320neos in July last year. Recent results showed that companies like EasyJet, Wizz Air, and AIG are doing well ahead of the summer holiday. Michael O’Lreary, Ryanair’s CEO said:

“In addition to delivering significant revenue and traffic growth across Europe, we expect these new, larger, more efficient, greener, aircraft to drive further unit cost savings, which will be passed on to passengers in lower air fares.”

The next key catalyst for the Ryanair share price will be the upcoming earnings that are scheduled for May 22. The most recent results showed that the company’s guests jumped to 24% to 38.4 million while the load factor jumped to 93%. In April, the load factor jumped to 94%. Further, the company’s revenue rose by 57% to 1.59 billion euros. 

Ryanair share price forecast

The 4H chart shows that the Ryanair stock price has been in a bullish trend in the past few days. It has managed to move above the key resistance point at $98.47, the highest point on March 6 and February 9. 

The shares remain above all moving averages while oscillators like the Relative Strength Index (RSI) and the MACD continued rising. Therefore, by invalidating the triple-top pattern, there is a likelihood that the shares will continue rising as buyers target the next resistance point at $110.

The post Ryanair share price stays calm at a key level ahead of May 22 appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Everynet, one of the world’s largest network operators for national LoRaWAN® networks, announces it is working with Amazon Web Services (AWS) to offer long-range...


    As more candidates throw their hats into the 2024 Presidential ring, I’d like to offer a proposal that should have immediate bipartisan support: stop...

    Editor's Pick

    The Internet of Things (IoT) is changing the way we interact with technology, and it has the potential to revolutionize the way we manage...

    Editor's Pick

    Semtech Corporation and esteemed engineering design services firm, Connected Development, today announced the launch of the new XCVR Development Board and Reference Design integrating...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023