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Could Boeing Take Off In May?

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Could Boeing Take Off In May?

Boeing Co (NYSE: BA) is a stock that could blossom in May, chief market technician at Piper Sandler Craig Johnson said Friday on CNBC's "Trading Nation."

What Happened: Boeing reported quarterly losses of $1.53 per share, missing estimates of a loss of $1.16 per share, and revenue of $15.22 billion beating estimates of $15.02 billion. 

"I am proud of the progress our global team made across our business in the first quarter as we continued to transform our enterprise, strengthen our safety processes, and sustain critical investments for our future," said Dave Calhoun, Boeing President and CEO.

Related Link: So What's Up With Boeing Today?

The stock sold off 7% in the month of April and is finding support, Johnson said. Boeing should be bought at current prices, he said, adding that he expects the stock "to be a winner" moving forward.

Price Action: Boeing traded as high as $278.56 and as low as $113.89 over a 52-week period. The stock closed down 0.7% at $234.31.

Photo courtesy of Boeing.

 

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