Trade of the Day: Boeing (BA)

Watch Boeing (BA) for a double top pattern

   

Airline stock Boeing (NYSE:BA) shot up in early March despite fears that its new fleet of planes would never fully get off the ground due to battery problems exposed in January. Shares have since flat-lined with a downside bias in the last three weeks but show signs of stabilizing.

4 5 13 BA44 Trade of the Day: Boeing (BA)

Boeing is a stock that I return to again and again in my advisory service. The next month has been strong for BA shares in the past, and it should have an opportunity to join its peers like Northrop Grumman (NYSE:NOC) at new highs. There could be substantial upside toward at least the $90-$95 area to make a double top, and once that area is cleared, then $100-plus.

4 5 13 2 BA244 Trade of the Day: Boeing (BA)

Recommendation: Buy BA for a $92 target, with a tight stop at $83.

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InvestorPlace advisor Jon Markman operates the investment firm Markman Capital Insight. He also writes a daily swing trading newsletter, Trader’s Advantage which aims to capture profits of 15% to 40% and often as much at 100% to 200% in less than 90 days. 

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