RTX CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 107.60 |
| Take Profit | 114.00 |
| Stop Loss | 105.00 |
| Key Levels | 98.40, 99.00, 103.70, 104.00, 106.00, 107.60, 108.00, 110.00, 114.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 103.70 |
| Take Profit | 98.40 |
| Stop Loss | 105.00 |
| Key Levels | 98.40, 99.00, 103.70, 104.00, 106.00, 107.60, 108.00, 110.00, 114.00 |
Shares of RTX Corp., an American aerospace and defense conglomerate, are holding within a long-term uptrend around 106.00.
On the daily chart, the price is heading towards the channel resistance line 110.00–99.00.
The four-hour time frame shows that the movement has already developed into an independent trend after quotes consolidated above last year’s high of 104.00. Currently, the instrument is approaching the channel resistance line at 110.00 and will be able to reach it if it overcomes the current local high at 108.00.
Technical indicators maintain the buy signal: fast EMAs on the Alligator indicator are significantly above the signal line, and the AO histogram is forming new ascending bars, rising in the buying zone.
Trading tips
Long positions should be opened after the price consolidates above 107.60 with the target at 114.00. Stop-loss — 105.00. Implementation time: 7 days and more.
Short positions should be opened after a reversal and consolidation of the price below the low of 103.70 with a target of 98.40. Stop-loss — 105.00.
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.