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Raytheon Technologies Corp., Technical Analysis

11/14/2022 10:36 AM

The shares of Raytheon Technologies Corp., the largest US aerospace and defense conglomerate, are moving within a stable corrective trend near 93.00.

An upward correction is being formed on the daily chart, within which the price has almost reached the key resistance level of 100.00.

On the four-hour chart, it can be seen that the current decline is a correction after the instrument breaks the resistance level at 96.00, after which the upward movement will continue with the target at 100.00, otherwise, the price may reach global support at 88.00.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms upward bars in the buying zone.

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