You probably all know that I love Boeing (BA) and it is a great dividend growth stock for DRIP. I first talked about BA 6 years ago when it was going through another nightmare and it was trading hands around $80 or so and no one was interested in it (see here). That was the first time I suggested to buy BA and since then it shot up all the way to about $450 before this nightmare came. Although I have no any concern about its long term fundamentals and this saga is just a noise that will pass sooner or later (although I did feel it would have already passed the worst period by now), I still prefer to buy BA as cheap as possible. The pass two days over 15% crash seems to have pushed it down to the bottom. I was asked if it is a good buy around $330 now? I don't feel so. You see, the initial crash down is often not the only leg down. Most likely, after some attempted bounce back, another leg down will follow, which could be even worse than the initial one. Purely from the TA perspective, indeed BA appears to have further room to drop. I think there is a good chance to see it bottom around $300,which is a very strong support. I don't think BA will decline much from 300 if it indeed goes down that much. At that time, it will be a much better place to do bottom fishing.
For now, it is a better trading opportunity than long term buy for BA. Of course, one can also consider dollar cost averaging by buying a little now and buying more as BA further declines. In any respect, BA is a great long term investment, especially for DRIP!
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