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Tuesday, September 21, 2021
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Boeing Stock Fundamentals are Rock Solid

$BA

Friday, RBC rated Boeing (NYSE:BA) with an “outperform” rating and a $164 price target. But, when the real opportunity presented itself during the C-19 Coronavirus chaos crash the experts were silent.

Below 90, BA stock was a blind Super buy. Most of Wall Street missed it, but the Saudi sovereign wealth fund and others bought about $500-M worth.

Chasing headlines is not a savvy thing to do.

With that in mind, here are some Key things you need to know about Boeing stock looking ahead, as follows:

On its worst day, the Boeing sales pipeline is beyond reproach. It is 1 of only 2 major jet manufacturers in this world. They are both booked solid for years. The global quarantine did cause a lot of cancellations but that problem for them started last year.

The grounding of the Max was a major disruption in the order flow. C-19 coronavirus just made the problem worse. My belief is that the authorities will let the 737 Max fly again and that is a headline that will cause a leg up in BA stock.

I am a believer in the technicals because charts do not lie, and the adage “price is truth” is fact!

In this case, the long-term weekly chart suggests a bounce to 225/share, and with a 25 over-shoot. The Key indicators are flashing Very Bullish as of Friday, 22 May.

BA closed Friday at 137.53, -1.47, the support is Super Strong at 130.57, and the resistance is Nil to 280.12 then 323.59.

Have a healthy Memorial Day weekend, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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