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Berger: Why Boeing shares could fly
Serge Berger, also known as the Steady Trader, is looking to buy Boeing Co. as the US plane maker’s stock price continues to rise. Interest around the company’s new 777X jetliner is escalating as some contract negotiations struggle.
Last week, the machinist union rejected Boeing’s second contract aimed at keeping manufacturing in Washington State, the production home of the 777 jetliner. Although the contract was labeled a “significant improvement” by Bryan Corliss, a spokesman for the International Association of Machinists, union leaders refused to present it to members.
Demand for the production of the 777X seems to be high though, as Boeing stated that 22 other states expressed interest in becoming the new home of the plane’s factory.
Given the stock;s strength over the last year, Berger is looking to buy on a break at USD 135 , noting the lower-end support at USD 131 . Berger has placed a stop at USD132 and a target of USD 141.
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