Dow stock Boeing is surging, and some traders expect even more gains

Boeing shares have left the runway.

Shares of the aerospace giant climbed 4 percent Thursday on the heels of a bullish call from UBS, resuming a rally that's seen the company's stock surge 46 percent in the past year. Some traders expect even more gains.

"We like Boeing a lot," Mark Tepper, president and CEO of Strategic Wealth Partners, said Thursday on CNBC's "Trading Nation."

"This is all about demand, and demand is increasing because you've got a lot of improvement in both passenger and freight traffic," he said, citing strong demand for single-aisle jets and a healthy backlog.

Another boon for Boeing should be the aerospace and defense giant's diversified revenue exposure and its prominence in the defense industry. "That's the one area of manufacturing we feel is really insulated from a trade war, because there's not any true global competitor," Tepper said. "So foreign sales should remain resilient."

After Microsoft's 49 percent gain, Boeing is the best-performing Dow stock in the past year.

From a technical perspective, some traders say the stock is poised to continue rallying.

"There is a nice move coming off the 200-day moving average; it kissed it perfectly yesterday on the low. That also double-bottomed a couple of months back. There is some tremendous momentum right now," Blue Line Futures President Bill Baruch said Thursday on "Trading Nation."

"From there, if some of the fundamentals line up, and U.S. and China continue to be a tailwind, we could start to break out above that trend line. And yes, we could see a much, much stronger gain from there," he said.

Boeing shares closed 4 percent higher on Thursday, at $345.98 per share.

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Trading Nation is a multimedia financial news program that shows investors and traders how to use the news of the day to their advantage. This is where experts from across the financial world – including macro strategists, technical analysts, stock-pickers, and traders who specialize in options, currencies, and fixed income – come together to find the best ways to capitalize on recent developments in the market. Trading Nation: Where headlines become opportunities.

Sara Eisen

Sara Eisen joined CNBC in December 2013 as a correspondent, focusing on the global consumer. She is co-anchor of the 10AM ET hour of CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET), broadcast from Post 9 at the New York Stock Exchange.

In March 2018, Eisen was named co-anchor of CNBC's "Power Lunch" (M-F, 1PM-3PM ET), which broadcasts from CNBC Global Headquarters in Englewood Cliffs, N.J.

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