Shares of Raytheon Technologies Corp., the US aerospace and defense conglomerate, are moving in a stable corrective trend near 97.00.
On the daily chart, an upward correction is being formed, within which the price is trading in an upward corridor with dynamic boundaries of 97.00–102.00 and is preparing to develop a new upward impulse.
On the 4-hour chart, the current decline is most likely a fourth corrective wave, and after reaching the upward trend’s support line at 96.00, it will be completed, after which the increase is likely to continue, and 101.50, coinciding with the initial trend of 61.8% by Fibonacci extension, will be the main target.
Technical indicators hold a global buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram forms downward bars in the buying zone.