Current trend

Shares of RTX Corp., an American aerospace and defense conglomerate, are trading within the long-term uptrend: yesterday, the quotes reached the upper border of the Murrey trading range at 125.00 (Murrey level [8/8]), consolidation above which will allow for continued price growth to the reversal zone and the levels of 128.12 (Murrey level [ 1/8]) and 131.25 (Murrey level [ 2/8]). The key for the "bears" is the reversal level of 118.75 (Murrey level [6/8]) below the central line of Bollinger Bands, with a breakdown of which downward dynamics can resume to the targets of 112.50 (Murrey level [4/8]) and 109.38 (Murrey level [3/8]).

Technical indicators confirm the continuation of the uptrend: Bollinger Bands are directed upwards, MACD is increasing in the positive zone, while Stochastic is directed upwards, but enters the overbought zone.

Support and resistance

Resistance levels: 125.00, 128.12, 131.25.

Support levels: 118.75, 112.50, 109.38.

Trading tips

Long positions can be opened above 125.00 with targets of 128.12, 131.25 and a stop-loss around 122.80. Implementation period: 5–7 days.

Short positions should be opened below the 118.75 mark with targets of 112.50, 109.38 and a stop-loss around 120.90.