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Raytheon Technologies Corp., Technical Analysis

2/14/2023 10:37 AM

The shares of Raytheon Technologies Corp., a US aerospace and defense conglomerate, are trading near 100.00.

On the daily chart, an upward correction is forming within the local Diamond pattern with the boundaries of 94.00–102.00.

On the four-hour time interval, the upward scenario is more clearly visible, and consolidation above the local high of 102.00 will open up the quotes to reach another last year's resistance around 106.00. In the event of a reversal, the price may face a serious obstacle at 94.00, which is the lower border of the pattern.

Technical indicators hold a buy signal: fast EMAs on the Alligator indicator are actively moving away from the signal line, and the AO histogram forms rising bars, having almost reached the transition line.

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