| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 97.30 |
| Take Profit | 100.00, 103.12 |
| Stop Loss | 95.20 |
| Key Levels | 87.50, 90.62, 93.75, 96.88, 100.00, 103.12 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 93.75 |
| Take Profit | 90.62, 87.50 |
| Stop Loss | 96.00 |
| Key Levels | 87.50, 90.62, 93.75, 96.88, 100.00, 103.12 |
Current trend
Shares of Raytheon Technologies Corp., an American aerospace and defense conglomerate, have been trading within a wide sideways range since the end of last year from 103.12 (Murrey level [ 1/8]) to 93.75 (Murrey level [6/8]) and cannot yet leave it.
Currently, the price is trying to resume growth and is testing 96.88 (Murrey level [7/8]), consolidation above which and the middle line of Bollinger Bands (97.30) will allow quotes to reach 100.00 (Murrey level [8/8]) and 103.12 (Murrey level [8/8]). Murrey [ 1/8]). The key “bearish” level is the pivot level 93.75 (Murrey’s level [6/8]), which breakdown will provide further decline to 90.62 (Murrey’s level [5/8]) and 87.50 (Murrey’s level [4/8]).
Technical indicators do not give a single signal: Bollinger bands are reversing downwards, Stochastic is trying to reverse upwards, and the MACD histogram is near the zero line, maintaining insignificant volumes.
Support and resistance
Resistance levels: 96.88, 100.00, 103.12.
Support levels: 93.75, 90.62, 87.50.
Trading tips
Long positions may be opened above 97.30 with the targets at 100.00, 103.12 and stop loss around 95.20. Implementation period: 5–7 days.
Short positions may be opened below 93.75 with the targets at 90.62, 87.50 and stop loss around 96.00.
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