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Raytheon Technologies Corp., Market Update

9/7/2022 3:16 PM

The stocks of one of the largest financial and industrial groups in the USA, Raytheon Technologies Corp. are trading in a corrective trend near the 90.00 mark after reports about the impossibility of fulfilling the contract for the supply of Javelin anti-tank missiles to Brazil, the cost of which was estimated at 100.0M dollars. The decision was made on the initiative of the American authorities, since Congress does not intend to strengthen the military forces of the neighboring mainland state.

On July 26, a report on the work for Q2 was published, reflecting revenue growth to 16.31B dollars from 15.27B dollars in the previous period. Earnings per share were 1.16 dollars, up from 1.15 dollars a quarter earlier. Updated statistics will be released on November 1, and analysts expect to see growth in revenue due to increased demand for American weapons because of the escalation of the military conflict in Ukraine. The fact is that the US defense industry has managed to significantly reduce its outdated arsenal, which can now be replaced with more modern and expensive weapons. Thus, the company expects to receive up to 17.36B dollars in revenue, which significantly exceeds 16.0B dollars in the same period a year earlier.


The Triangle pattern continues to form, and recently the first signals for its implementation downwards have appeared. The trend indicator "alligator" is already preparing for a reversal, narrowing the range of EMA fluctuations, and the AO oscillator is approaching the sales zone, forming descending bars.         

Support levels: 89.00, 82.00. | Resistance levels: 95.00, 100.00.



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