Quotations of one of the largest financial and industrial groups in the USA, Raytheon Technologies Corp. continue to trade within the mid-term uptrend and this week they continued testing the 96.88 mark (Murray [7/8]).
Global geopolitical tensions and an increase in the volume of defense orders continue to support prices. Experts believe that such a favorable situation for the growth of the company's profits will last for a long time and even call the issuer's shares one of the best investment items for the next year. At the same time, it is noted that financial growth will be achieved not only through the implementation of military orders, but also the profits of the civilian division of Raytheon Technologies Corp., which is engaged in the production of aircraft engines, since the volume of air traffic after the complete abolition of coronavirus restrictions will continue to recover. Short-term support for stock prices is also provided by a new contract worth 114.5M dollars for the modernization of the F135 aircraft engine under the F-35 Lightning II program and discussion of the possible transfer of the Patriot anti-aircraft missile system to Ukraine.
The price is testing the 96.88 mark (Murray [7/8]), but it cannot consolidate above it yet. If successful, the price growth will continue to the levels of 100.00 (Murray [8/8]), 103.12 (Murray [+1/8]). A breakdown of the middle line of the Bollinger Bands around 95.40 will give the prospect of a return to the area of 90.62 (Murray [5/8]).
Technical indicators do not give a single signal: the Bollinger Bands are reversing horizontally after growth, the MACD histogram is stable in the positive zone, the Stochastic may leave the overbought zone.
Resistance levels: 96.88, 100.00, 103.12. | Support levels: 95.40, 90.62, 87.50.