RTX CORP.: TECHNICAL ANALYSIS

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RTX CORP.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationSELL STOP
Entry Point73.50
Take Profit67.00
Stop Loss76.00
Key Levels73.50, 75.00, 77.00, 79.70, 83.30, 86.50
Alternative scenario
RecommendationBUY STOP
Entry Point79.70
Take Profit86.50
Stop Loss77.00
Key Levels73.50, 75.00, 77.00, 79.70, 83.30, 86.50

Shares of RTX Corp., an American aerospace and defense conglomerate, are moving in a corrective trend near 75.00.

On the daily chart, the price is actively declining, forming new price gaps, and since mid-July 2023, the quotes have already lost more than 24.5%.

On the four-hour chart, a gap of 83.30–79.70 has formed, and in the event of a reversal and growth, the “bulls” will need to work it out first. Further dynamics are likely to be downward, and the nearest support is Tuesday’s low of 73.50.

Technical indicators are strengthening the sell signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming downward bars in the sell zone.

RTX CORP.: TECHNICAL ANALYSIS

Trading tips

Short positions may be opened after the price declines and consolidates below 73.50 with the target at 67.00. Stop loss – 76.00. Implementation period: 7 days or more.

Long positions may be opened after a reversal, growth, and consolidation of the price above 79.70 with the target at 86.50. Stop loss – 77.00.

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