Wall Street is about to get its first glimpse at how Boeing has weathered its 737 Max crisis.

Its earnings report, out before the bell Wednesday, is the first since the company was forced to ground its 737 Max fleet in mid-March following two fatal plane crashes within six months. Its shares remain 16% below a record set on March 1.

Mark Tepper, president of Strategic Wealth Partners, says any near-term weakness should be overlooked in favor of future strength.

"We invest in companies that have a good strong growth story that are reasonably priced, and Boeing definitely fits that criteria as a long-term play," Tepper said on CNBC's "Trading Nation" on Tuesday. "This is a stock we want to hold. We love their business mix — over 20% is defense. They're in a dominant position. We don't think the airlines are going to switch to Airbus, so we'd be buyers on a pullback."

At its worst during the March sell-offs, Boeing shares fell as low as $361.53, gapping 19% from its 52-week high. Since then, it has recouped 3%.

This earnings report could put some pressure on the stock, though, adds Tepper.

"All eyes are going to be on their cash flow burn associated with the 737 Max, and what I think it's important for investors to understand is this is just a timing event. The cash flow is still going to be realized. It's just going to be pushed back," he said.

Free cash flow is expected to have fallen 52% year over year in its March-ended quarter, according to analysts surveyed by FactSet. Quarterly free cash flow for the three months to June is estimated to fall 96%.

Fairlead Strategies founder Katie Stockton says Boeing shares need to hold one key level following this earnings report.

"The chart is in a long-term uptrend for sure, but more recently you've seen some consolidation within that uptrend above the rising 200-day moving average," Stockton said Tuesday on "Trading Nation." "So I think with Boeing into earnings we really need to be watching support at that 200-day moving average."

Boeing would need to fall 3% before touching its 200-day moving average. Stockton adds that a break above its 50-day moving average would be bullish, a level still a 9% rally from its current price.