Action Investments Limited: Boeing Stock was Saved by Early Entry and Early Profit

In an effort to profit on the Nasdaq's rotation, we added a number of positions during the previous several weeks. Although the Boeing stock did not soar as we had planned, we continued to monitor it.
SHEUNG WAN, Hong Kong - July 6, 2023 - PRLog -- Our quick entrance and quick profit prevented a catastrophic landing for BA shares.

Following a close call during the epidemic, Boeing (BA) was cautiously upbeat following its April results. Reduced losses increased Q1 EPS by 54% to $-1.27. Beginning in November 2022, BA operated until February 2023, when it started to consolidate. It seemed ready to take off before the Paris Air Show. A position in Boeing seemed like the best approach to make a rotational play when the Nasdaq was stretched 7% from the 50-day line.

The Finest Schemes

We added Boeing to SwingTrader on June 8. Despite the extensive trading on June 6, BA stock finished above the 50-day line and in the top part of its range. We bought the stock at 217.23 when it broke through the high of June 2.

Boeing was IBD's Stock Of The Day on June 12 after clearing the 221.33 purchase mark of its flat base. The next day, at 222.89, we collected our first profit with a gain of 2.5%. As the turbulence increased, this decision was wise.

Boeing stock started to give back whatever gains it had made, not take off. Support at the 10-day line assisted in calming anxieties. But as we headed into the three-day weekend, the resistance at 224 and the lower quartile close were not what we wanted.

Boeing's shares started to plummet on June 20. BA shares lost about 2.5% from the opening price in the first hour of trade. The Paris Air Show reports were not kind to us. While both Airbus and Boeing fell short of some expectations of 2,000 orders, Reuters reports that Airbus (EADSY) received the lion's share of the 1,100 orders and pledges, or around 830.

Please contact our team members to learn more about this unique financial building experience by way of good securities investment and portfolio management. Our aim is to make your wealth building journey, a simple and enjoyable experience.

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Page Updated Last on: Nov 21, 2023
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