Current trend

Share prices of RTX Corp., an American aerospace and defense conglomerate, have been corrected downward for the second month in a row relative to the long-term uptrend: during this time, they reversed at 107.81 (Murrey level [5/8]), moved into the negative part of Murrey's trading range and currently, they are testing its lower limit at 100.00 (Murrey level [0/8]), consolidation below which will allow the movement to continue in the reversal zone towards the target 96.88 (Murrey level [−2/8]).

The key level for the "bulls" seems to be 103.12 (Murrey level [2/8]), supported by the center line of Bollinger Bands, a breakdown of which upwards could lead to a change in the short-term downward trend and the resumption of dynamics towards 106.25 (Murrey level [4/8]), 109.38 (Murrey level [6/8]). However, such a scenario seems less likely at the moment, since technical indicators confirm the likelihood of a continuation of the decline: Bollinger Bands are directed downwards, Stochastic is also trying to reverse there, and MACD is increasing in the negative zone.

Support and resistance

Resistance levels: 103.12, 106.25, 109.38.

Support levels: 100.00, 96.88.

Trading tips

Short positions may be opened below 100.00 with target at 96.88 and stop-loss at 102.15. Implementation period: 5-7 days.

Long positions may be opened above 103.12 with targets at 106.25, 109.38 and stop-loss at 100.80.