The BAE systems share price has been on the rise for almost two weeks, which has seen its prices go up by 4 per cent. In today’s trading session, the strong bullish trend looks poised to continue after yesterday’s bear session, which saw a drop of 1.4 per cent.
The recent gains amidst increased interest in BAE Systems defence systems. This week, it was announced that the company had been selected to produce the new Cold Weather All-Terrail Vehicle by the U.S. Army. The contract is rumoured to be around $278 million and will go to its U.S. unit and its Swedish business. BAE Systems will be required to produce units, and spare parts and provide logistic support, according to a company statement released on August 22.
Earlier this week, it was also revealed that BAE systems had also entered production of Network Tactical Common data Links for the U.S Navy. These systems will be used by the navy to simultaneously transmit and receive real-time intelligence, surveillance and reconnaissance data from multiple sources. It will also help the Navy with the exchange of command and control information over multiple data links.
BAE Systems Share Price Analysis
With its recent partnership with the U.S Army and U.S Navy, the BAE system has had a positive week. The contracts recently signed by the company will see the company continue to meet its long-term goals. The announcement has also been received positively by the markets.
Looking at the chart below, the prices have also been rising following the recent positive news. In today’s trading session, the share price is up by more than a percentage point. The share prices are also looking likely to continue rising throughout the remaining hours. In the next few trading sessions, I expect the current BAE System share price to continue rising. There is a high likelihood we might see it hitting the 850p price level before the month ends.