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RTX CORPORATION

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5UR trade ideas

RTX Raytheon if Trump wins on Nov 3rdFirst idea post on here. Lurking in the shadows for years. Stealing all of your wonderful trades. Been accumulating Raytheon RTX Since Aug between $58 -$60 I believe a Trump win will set off a massive Rally in Defense/Military contractors RTX has a Really nice 10+ year Channel Never Broken Been at the Bottom of the channel since Covid Raytheon has a massive backlog of product to ship out( including Patriot shelters, Mobilizers, EEU ect). Defense contractors kicking production into overdrive last month to deliver backlogs Product will start shipping over the next month leading up to the election. Wedge is closing in leading right to the election day. Look for entry/accumulation between $59-$62 Set tight Stop at $57.99 After take off set a trailing stop or set Fib Targets
NYSE:RTXLong
by ShaolinStacker
1
RTX longRaytheon has bounced off of this green resistance twice and based on where the stock is relative to its RSI, it looks like there is room for more buyers to come in to push past the resistance and hopefully towards old highs. RSI is only at about 54 on the YTD chart. If it closes past this level of $74.76 at least 3 trading days in a row, the trend should hold. The fair-value estimate for RTX is $77 so it has room to go and has not fully recovered yet on the year. Defense spending and air travel should return to normal as vaccinations become more widespread. It has underperformed the S&P 500 all year but that trend is getting tired; go long. It still has a whole lot of catching up to do.
NYSE:RTXLong
by EBITDAtiger