Bombardier Inc (OTCMKTS:BDRBF) was a notable decliner during Wednesday’s trading session declining by 1.78% on heavy volumes, which were 1.2 times the 30 day average turnover. Bears continue to hold the upper hand as the stock continues to form lower tops and lower bottoms. Bombardier Inc currently trades below all important moving averages, which is considered to be bearish. The MACD oscillator continues to show no signs of a bullish reversal, which is a negative. The RSI indicator continues to form lower highs indicative of the strong bearish momentum. Traders see the stock heading to levels of $0.782 in the near term.
Bombardier Inc (OTCMKTS:BDRBF) announced that it would supply four extra FLEXITY Trams to the Gold Coast of Australia. As per the reports, these trams will enter service well in time to ensure an unparallel and uninterrupted support for commonwealth games that are to be conducted in 2018.
As of now, over 14 trams of Bombardier are in service, which completed 6.5 million trips covering a total distance of one million kilometers in 2014.
Insights of The Matter
Bombardier Inc is known for offering world-class transportation services in rail technology. There was an additional need of a few trams at GCLRT or Gold Coast Light Rail Transit system, to which Bombardier took an instant action and sent four trams immediately. The total value of this order is claimed to be around $18 million or 17 million Euros. The initiative is a part of an agreement that was signed back in 2011.
The authorities plan to use these vehicles on the Southern extension of Gold Coast Light Rail that’s directed to Helensvale. It’s most likely to be delivered before the 2018 Commonwealth Games and will be operational to ensure that all the preparations go as per plans.
According to Phil Mumford, Chief Executive Officer, GoldLinQ, a lot of initiatives are being taken before the execution of 2018 CWG. With the help of this delivery, Bombardier wants to ensure that the light rail is can easily be connected to the heavy rail and make the entire experience easy and hassle-free.
He further added that the blue and yellow trams are like synonymous with the famous Gold Coast. All the new light vehicles that are required for the successful implementation of stage two will arrive in August 2017. Bombardier doesn’t want to miss out this opportunity to ensure that all the passengers have the best in class experience in the coming months.