RTX Corp.: Technical Analysis
| situation | |
|---|---|
| Time frame | Weekly |
| Introduction | SELL STOP |
| Entry point | 116.70 |
| Make Profit | 109.70 |
| Stop Loss | 120.00 |
| Key Levels | 105.10, 109.70, 116.70, 118.00, 120.00, 127.60, 133.00 |
| Alternative scenarios | |
|---|---|
| Introduction | BUY STOP |
| Entry point | 119.40 |
| Make Profit | 127.60 |
| Stop Loss | 116.00 |
| Key Levels | 105.10, 109.70, 116.70, 118.00, 120.00, 127.60, 133.00 |
Shares of RTX Corp., an American aerospace and defense conglomerate, are trading at $118.00.
On the daily chart, the price is adjusting from the support line of the ascending channel, with a range of 133.00–118.00.
On the four-hour chart, if the price breaks out of the head and shoulders reversal pattern with the neckline at 118.00, a downtrend is likely to occur. After the onset of the pattern, the main obstacle to the decline will remain at the end of the price gap at 109.70–105.10.
Technical indicators are preparing to reinforce the sell signal: the fast EMA on the Alligator indicator begins to move away from the signal line, and the AO histogram is forming bars in the negative zone.
Trading Tips
Short positions can be opened after the price drops and consolidates below 116.70 with a target of 109.70. Stop loss — 120.00. Execution period: 7 days or more.
Long positions can be opened after the price increases and consolidates above 119.40 with a target of 127.60 stop loss — 116.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.