The aerospace and defense industry continues to be relatively strong compared to the general market. A new setup that I will be following this week is BWX Technologies (BWXT):
- BWXT retested the supply zone at 57 on 29.07 and this proves to be an important price level. You can see from the attached chart that the level was tested 4 times in recent months.
The stock might need a catalyst to break the supply zone and this catalyst could be just around the corner. Quarterly earnings report will be on 08.08 and in case the results prove to be positive, we might see BWXT flying higher.