Considering shares of Boeing are down about 8% over the past 3 months, how should you game this stock ahead of earnings Wednesday.
Seems like a good time for Fast Money 360.
Find out what fundamentals, technicals and insights from the options world all suggest lie ahead for this stock.
Analyst of Alex Hamilton of C.K. Cooper is bullish. “We are buyers of Boeing going into earnings,” he tells the desk with conviction.
”We have been saying for months we are in the first stage of a multi-year up-cycle and strong orders from Europe’s Farnborough Air Show last week support that thesis.”
However, if you follow Hamilton’s recommendation, you’d better have a long(ish) time horizon.
”We are not buying this stock for this quarter or next quarter,” he adds. “We are buying it for the multi-year up-cycle.”
Oppenheimer’s Carter Worth is also bullish.
Looking at patterns in the chart, Worth explains, “The stock has exhibited relative strength during the April to June sell-off. I think it continues to track its 150 day moving average.
Ontop of that Worth expects Tuesday’s results will provide a positive tailwind. “I think it will act well in response to its earnings.
What’s the bottom line?
“We're buyers of Boeing going into earnings,” Worth concludes.