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Trade of the Day: Boeing (BA)

BA should continue flying high, despite a challenging year


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(BA), the big commercial and defense aircraft maker, continues to soar ahead despite the issues with its Dreamliner planes  and with sequestration budget cuts. Strong earnings on July 24 played a part in soothing investors’ and traders’ fears, yet the stock has not made a new high in the past few days along with the rest of the Dow Jones Industrials Average, in part because of lingering concerns about its new 787 program.

But Boeing is in a major product cycle that should last at least another couple of years. The stock traded gently lower Monday, but remains well-entrenched in a multi-month uptrend along with most of the rest of its aerospace and defense peers. It should power out to new highs soon, and here’s how to get in on it.

Recommendation: Buy BA at $107.50 limit, good till canceled, for a $113.00 target.

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

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