How the price action of Raytheon Technologies Corp (RTX) is used to our Advantage

August 24, 2022, 09:15 am ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Raytheon Technologies Corp (NYSE: RTX) data table below can help you with price action, and we have more details too. Trading plans for RTX are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for RTX

• Buy RTX slightly over 90.64 target 97.36 stop loss @ 90.38 Details

The technical summary data tells us to buy RTX near 90.64 with an upside target of 97.36. This data also tells us to set a stop loss @ 90.38 to protect against excessive loss in case the stock begins to move against the trade. 90.64 is the first level of support below 92.5 , and by rule, any test of support is a buy signal. In this case, support 90.64 would be being tested, so a buy signal would exist.

• Short RTX under 97.36, target 90.64, stop loss @ 97.64 Details

The technical summary data is suggesting a short of RTX as it gets near 97.36 with a downside target of 90.64. We should have a stop loss in place at 97.64though. 97.36 is the first level of resistance above 92.5, and by rule, any test of resistance is a short signal. In this case, if resistance 97.36 is being tested, so a short signal would exist.

Swing Trading Plans for RTX

• Buy RTX slightly over 92.64, target 95.49, Stop Loss @ 92.37 Details

If 92.64 begins to break higher, the technical summary data tells us to buy RTX just slightly over 92.64, with an upside target of 95.49. The data also tells us to set a stop loss @ 92.37 in case the stock turns against the trade. 92.64 is the first level of resistance above 92.5, and by rule, any break above resistance is a buy signal. In this case, 92.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RTX near 92.64, target 90.64, Stop Loss @ 92.91. Details

The technical summary data is suggesting a short of RTX if it tests 92.64 with a downside target of 90.64. We should have a stop loss in place at 92.91 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 92.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for RTX

• Buy RTX slightly over 92.64, target 95.49, Stop Loss @ 92.42 Details

If 92.64 begins to break higher, the technical summary data tells us to buy RTX just slightly over 92.64, with an upside target of 95.49. The data also tells us to set a stop loss @ 92.42 in case the stock turns against the trade. 92.64 is the first level of resistance above 92.5, and by rule, any break above resistance is a buy signal. In this case, 92.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short RTX near 92.64, target 91.18, Stop Loss @ 92.86. Details

The technical summary data is suggesting a short of RTX if it tests 92.64 with a downside target of 91.18. We should have a stop loss in place at 92.86 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 92.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

RTX Ratings for August 24:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	90.64
P2	91.18	92.64	97.36
P3	92.45	95.49	104.24

Support and Resistance Plot Chart for RTX

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