RTX is currently in an uptrend, as evidenced by its strong upward movement, followed by a period of consolidation. This phase is crucial as it allows the stock to gather strength and form a stable base before potentially continuing its upward trajectory. The RSI indicates that the stock is approaching a neutral range, which suggests it is neither overbought nor oversold at this point. Given the overall trend and the current consolidation, it would be prudent to allow this phase to fully mature. This will provide a clearer indication of whether the stock is ready for a breakout or if it needs further time to stabilize before continuing its trend.
Patience during this phase is key, I'm looking for a breakout beyond 121.40$ to reconsider a position.
David | SpotTheTrend
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David | SpotTheTrend
===================
Analyze you trading performance with:
IBKR Trades Analyzer Beta
app.ibkr-analyzer.com/
===================
Analyze you trading performance with:
IBKR Trades Analyzer Beta
app.ibkr-analyzer.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.