We’re Picking Up More Shares of This Defense Player
We see a potential positive catalyst that could remove a hangover on the shares ahead.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
| BA | Buy | 63 | 208.90 | 888 | 3.0 |
After you receive this alert, the Pro Portfolio will buy 63 Boeing (BA) shares at or near $209.25. Following the trade, the Portfolio will own 888 BA shares, roughly 3.0% of its assets.
Following our comments about Boeing and its pending union negotiations from Tuesday, we are using the improving technical setup for the shares, especially for their MACD indicator, to modestly grow our exposure.
Our thinking is a positive outcome from the union negotiations combined with the more than 10% pullback in the shares have the potential to drive a nice move higher in the shares. The issue we are trying to head off on Wednesday is a quick response to any such headlines in the shares. If we’re wrong, we still have ample room in the position size should the shares drift lower due to market forces.
Two other catalysts on the horizon include Boeing’s August deliveries and CEO Kelly Ortberg speaking at the Morgan Stanley Laguna Nigel Conference on September 16.
As we make this move, we will reset our BA checkpoint to $185 from 190.
More Pro Portfolio
- We’re Accumulating More Shares of This Oversold Holding
- We’re Tracking 23 New Signals Across Our Investing Themes
- August Monthly Roundup: Maintaining Our Lead Through the Ups and Downs
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time if publication, TheStreet Pro Portfolio was long BA shares.
