Boeing
Boeing (BA - Get Report) may have started off the year with a stumble, but shares have been quickly making up for lost time since this big aerospace stock bottomed in the middle of February. In that stretch, Boeing has rebounded nearly 23%, logging double the upside of the rest of the S&P 500. And the good news for Boeing bulls is that this stock could be about to head even higher in May.
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Boeing is currently forming an ascending triangle pattern, a bullish continuation setup that's formed by horizontal resistance up above shares (at $135 in this case), and uptrending support to the downside. Basically, as Boeing bounces in between those two technically important price levels, it's been getting squeezed closer and closer to a breakout through that $135 price ceiling. When the breakout happens, we've got our buy signal.
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Relative strength, which measures Boeing's price performance versus the rest of the stock market, is an extra indicator to keep an eye on here. That's because Boeing's relative strength line is holding onto an uptrend since shares bottomed in February, an indication that this big aerospace stock is continuing to outperform this spring.
As long as that relative strength uptrend remains intact, expect to see continued outperformance from Boeing.