RTX CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 92.34 |
| Take Profit | 97.22 |
| Stop Loss | 90.00 |
| Key Levels | 82.70, 85.00, 90.90, 91.00, 92.34, 93.00, 97.22 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 89.53 |
| Take Profit | 82.74 |
| Stop Loss | 91.00 |
| Key Levels | 82.70, 85.00, 90.90, 91.00, 92.34, 93.00, 97.22 |
Shares of RTX Corp., an American aerospace and defense conglomerate, are trading at 91.00.
On the daily chart, a local upward correction continues, and the price is heading toward the resistance line of the global correctional channel with boundaries of 93.00–85.00.
On the four-hour chart, the quotes reached the target of 90.90 at a full correction of 61.8% Fibonacci, and now the growth can become a full-fledged trend. However, a reversal from a full correction with a subsequent decline to 50.0% and 38.2% (82.70) may is possible.
Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are at a sufficient distance from the signal line, and the AO histogram forms corrective bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 92.34 with the target at 97.22. Stop loss – 90.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 89.53 with the target at 82.74. Stop loss – 91.00.
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