NEW YORK (TheStreet) -- Boeing (BA) has been one of the best names in the Trifecta portfolio since inception, consistently outperforming the market. It is also one of Jim Cramer's favorite companies. Shares currently trade at $141.
Boeing's chart is in a great spot and after some consolidation it seems ready to move upward, according to Real Money technical analyst Bob Lang. The recent low of $140 in early May was tested last week as the stock made a lower high in the daily chart. However, the power move from January still is in place and acts as huge support. The MACD has rolled over and other indicators are bearish, yet there is a divergence due to price not having followed the indicators.
At this point "we would like to see the price settle down, rest and have the indicators get re-charged for a run back up toward the old highs," said Lang. "We like the opportunity here and would add more on a dip. The prior time we did buy on the dip was early June 2014 and turned out to be an excellent buy point."
TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and increase in stock price during the past year. We feel its strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: BA Ratings Report