How the price action of Textron (TXT) is used to our Advantage

September 04, 2021, 15:45 pm ET, BY Rick W.- 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  Textron (NYSE: TXT) data table below can help you with price action, and we have more details too. Trading plans for TXT 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 TXT

• Buy TXT slightly over 68.97 target 73.63 stop loss @ 68.77 Details

The technical summary data tells us to buy TXT near 68.97 with an upside target of 73.63. This data also tells us to set a stop loss @ 68.77 to protect against excessive loss in case the stock begins to move against the trade. 68.97 is the first level of support below 72.55 , and by rule, any test of support is a buy signal. In this case, support 68.97 would be being tested, so a buy signal would exist.

• Short TXT under 73.63, target 68.97, stop loss @ 73.84 Details

The technical summary data is suggesting a short of TXT as it gets near 73.63 with a downside target of 68.97. We should have a stop loss in place at 73.84though. 73.63 is the first level of resistance above 72.55, and by rule, any test of resistance is a short signal. In this case, if resistance 73.63 is being tested, so a short signal would exist.

Swing Trading Plans for TXT

• Buy TXT slightly over 73.71, target 78.15, Stop Loss @ 73.5 Details

If 73.71 begins to break higher, the technical summary data tells us to buy TXT just slightly over 73.71, with an upside target of 78.15. The data also tells us to set a stop loss @ 73.5 in case the stock turns against the trade. 73.71 is the first level of resistance above 72.55, and by rule, any break above resistance is a buy signal. In this case, 73.71, 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 TXT near 73.71, target 71.43, Stop Loss @ 73.92. Details

The technical summary data is suggesting a short of TXT if it tests 73.71 with a downside target of 71.43. We should have a stop loss in place at 73.92 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, 73.71, 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 TXT

• Buy TXT slightly over 72.92, target 73.71, Stop Loss @ 72.75 Details

If 72.92 begins to break higher, the technical summary data tells us to buy TXT just slightly over 72.92, with an upside target of 73.71. The data also tells us to set a stop loss @ 72.75 in case the stock turns against the trade. 72.92 is the first level of resistance above 72.55, and by rule, any break above resistance is a buy signal. In this case, 72.92, 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 TXT near 72.92, target 71.75, Stop Loss @ 73.09. Details

The technical summary data is suggesting a short of TXT if it tests 72.92 with a downside target of 71.75. We should have a stop loss in place at 73.09 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, 72.92, 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.

TXT Ratings for September 04:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	68.97
P2	71.75	71.43	73.63
P3	72.92	73.71	78.15

Support and Resistance Plot Chart for TXT

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