Current trend

Shares of RTX Corp., an American aerospace and defense conglomerate, have been growing for the sixth month in a row: they are currently consolidated above 96.88 (Murrey level [7/8]) and are preparing to continue their dynamics towards the upper limit of Murrey’s trading range of 100.00 (Murrey level [8/8]) and further into the reversal zone 103.12 (Murrey level [ 1/8]), 106.25 (Murrey level [ 2/8]). In case of consolidation below the key “bearish” level of 93.75 (Murrey level [6/8]), supported by the middle line of Bollinger bands, a decline to the area of 87.50 (Murrey level [4/8]), 84.38 (Murrey level [3/8]) is expected).

Technical indicators confirm the continuation of the upward trend: Bollinger Bands and Stochastic reverse upwards, and the MACD histogram grows in the positive zone.

Support and resistance

Resistance levels: 100.00, 103.12, 106.25.

Support levels: 93.75, 87.50, 84.38.

Trading tips

Long positions may be opened from 98.10 with the targets at 100.00, 103.12, 106.25 and stop loss 96.70. Implementation time: 5–7 days.

Short positions should be opened below 93.75 with the targets at 87.50, 84.38, and stop loss 95.70.