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Raytheon Technologies Corp., Technical Analysis

8/22/2022 11:26 AM

The shares of Raytheon Technologies Corp., one of the largest financial-industrial groups in the US, added value and traded around 93.00.

On the daily chart of the asset, a global correction is forming against the previous uptrend, which reached a full Fibonacci 61.8% correction at 89.30, after which the price clamps within the Triangle pattern with dynamic boundaries of 89.30–94.00.

The four-hour chart shows that the quotes have approached the resistance line of this pattern around 94.00 and are preparing to reverse downwards, for which the trading instrument will need to consolidate below the intermediate correction level of 50.0% Fibonacci around 92.50.

Technical indicators keep a sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms downward bars in the sell zone.





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