RTX Trading in a range before a move higher.RTX has broken its red trend line support after earnings. I continue to think RTX is undervalued. We have a level of support at $57.35. Watch for a retest of $63.30.
RTX
RTX Long into EarningsPlaying for a sector rotation from big tech into value. The Aerospace sector has been beaten down and I think there is some short-term opportunity here as drug makers enter phase 3 trials at lightning speed.
Not to mention defense spending could continue higher.
RTX Bullish Cypher, Dave Portnoy is early! 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 would be C to D retrace of .382 and .618, but I will leave half on for trend continuation higher.
Raytheon (RTX) - Pull back or breakout?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. However, the option volume tells a slightly different story. The current call volume for RTX is 14,500 calls, largely outweighing the 5000 puts traded today. That is nearly 3 times as much volume on RTX calls than puts.
So, I am going to watch this trade idea and put it to the test.
As of 12 pm ET on May 19th, the RTX 59 strike puts expiring June 19th, 2020 are trading at a mid-price of $2.50. I am simply going to monitor the price change on this put option over the next few days to see who got it right. The bulls? or the bears?
Raytheon Technologies Corporation $RTXHere goes the breakdown!
It was a little obvious with breaking down the support line with a retest.
RTX looks great here on the weekly candlestick!My custom-coded candlstick alerts are pointing to a bullish few weeks for RTX! I'm in. Daily candlestick alert was about 4 trading days ago.
RTX Bullish 30day Long $85+NYSE:RTX
Since the merger with United Tech, RTX has made significant gains in its new share price. I agree with the Bulls assessment of RTX: Pratt & Whitney’s placement on the A320 family and A220 aircraft should substantially increase the company’s installed base of engines, which would unlock decades of high-margin servicing revenue. The firm’s missile and missile defense segment produces products that are prioritized by the National Defense Strategy, which should lead to consistent growth. Raytheon Technologies is well balanced between commercial aerospace and defense, which would partially insulate the combined firm from a downturn in either segment.”
Expecting a share price of over $85 in the next 30 days.
I have long positions in this stock.
Be effective and happy trading!
- Darell
