Now, decided to write cash and considering it again around end of July
The price is forming a very well know reversal pattern, Head and Shoulders (H&S), and after the confirmation of braking the neckline of 61 usd, the price may go down to 50-52 usd, fill in the gap at 52 usd from the first week of April. Stay safe!
62.36 is the support from 5/26. If it drops past there isn't much support until 60. We've opened a short to play this gap. The sell volume has also been decent these past few weeks which makes confident the decline is sustainable.
I seen the executive president of DDTG global global global grab some RTX so I checked the chart. Thought I spotted a bullish cypher, and measurements line up. I think Davey is a little early on the long. My play will be a scalp short of the break of (B) for a position reverse at the multi level confluence (D) point (entry long). Typically the take profit long...
$RTX I want to be bullish because of all the military chatter happening with china and the middle east. Watching the potential H/S pattern on this tho.
RTX and LMT may help a 50% fib trade in a few days
Long entry above box. Trade dead if price falls below box.
Sharing my RTX short play for the week and possible entry for Long play. Any feedback would be awesome. Mahalo I do like RTX as a long play as well after merging with united technologies. The products they provide in aerospace, drones and defense systems will play a role in the future imo. beat earnings last 4 quarters est eps for Q2 2020 much lower @ .36...
Here is my technical analysis for Raytheon Technologies. It is currently in a wedge and looking for a breakout. We could either have the break above $69.00 to the upside to test the resistance of 71.76 or the rejection of the wedge and a break down to the next critical level of support at $62.08.
gravestone doji possible price pressure, BUT 50% fib possible upside move and flag breakout near consolidation.
Here at YouCanTrade, we have been keeping watchful eye on defensive stock Raytheon NYSE:RTX , which has been trading below its 8 day EMA over the past 2 weeks of trading. The last two days of positive market activity has helped Raytheon pullback to its 21-day moving average, which could be a signal for taking a position in the direction of the downward trend....
Here goes the breakdown! It was a little obvious with breaking down the support line with a retest.
Looking decent on the indicators and good spread. Long