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Boeing’s Stock Is Oversold: Is This the Time to Buy?

If you’re looking for deep-value buys, one option is to look at oversold stocks which are trading near their lows. Oftentimes there is bad news associated with their struggles, but in some cases, the problems may be temporary, and buying on bad news can make for a good long-term investment.

One intriguing example is Boeing (NYSE:BA). The aerospace company has come under a lot of bad publicity in recent years due to faulty parts and problems with its planes, but it’s still a big name in the industry and many top airlines rely on its planes. While it no doubt faces a challenging road ahead, for contrarian investors, this could make for a worthwhile option to consider.

This year, the stock has fallen by 34% and over the past five years, its value has plummeted by 54%. Shares of Boeing are also in oversold territory, with a Relative Strength Index (RSI) of 26. RSI is a momentum indicator and when there has been a lot of selling pressure on a stock, the RSI falls lower. It operates within a scale of 0 to 100, and when it falls below 30, a stock is considered to be oversold.

With Boeing, however, the stock has been oversold multiple times within the past year, so this is by no means a rare opportunity for investors. It is, however, trading at a fresh 52-week low and the bearishness continues to weigh on its share price. While this can make for a good contrarian pick in the long run, investors may want to wait a bit longer as the stock is still in the midst of a tailspin. Until things stabilize for the stock, investors may want to just keep an eye on it for the time being.