Solid News

Raytheon Technologies Corp. Upward Momentum – in the Future

11/1/2022 2:41 PM

The shares of US aerospace and defense conglomerate Raytheon Technologies Corp. strengthened for the fourth week in a row on the back of positive financial statements and the prospect of new orders from the US Department of Defense.

Last week, the company reported higher-than-expected third-quarter earnings, driven by higher aircraft engines and parts sales. However, full-year earnings forecasts were slightly reduced due to ongoing supply chain problems and a shortage of qualified staff. The corporation's revenue in the third quarter amounted to 16.95B dollars, which is 5% more than last year's 16.21B dollars. Adjusted earnings per share came in at 1.21, down from last year's 1.26 dollars but above the median forecast of 1.11 dollars. According to management's forecasts, annual sales will be 67.15–67.30B dollars, which is less than the previously expected 67.75–68.75B dollars. Earnings per share are now expected to be 4.60–4.80 dollars instead of 4.70–4.80 dollars.

Despite a certain decrease in forecasts, the issuer's shares are developing positive dynamics against the background of the escalation of the military conflict on the territory of Ukraine, which may result in new deliveries of American weapons. Recently, Washington has been considering the issue of providing Kyiv with additional air defense systems, which Raytheon Technologies Corp is developing. It is already known that the company is working on producing several NASAMS anti-aircraft systems. Continued intense fighting will boost order volume and corporate profits, keeping investors interested in the stock.

Technical indicators confirm the upward trend: Bollinger Bands and Stochastic are reversing upwards, while MACD is increasing in the positive zone.

The quote's growth targets maybe 96.88 (Murrey [+2/8]), 99.00, and 100.40 (area of ​​five-month highs). The price going beyond the upper Bollinger band does not rule out a corrective decline to the area of ​​92.19 (Murrey [7/8]), 90.62 (Murrey [6/8]), but it is unlikely to lead to a reversal of the current trend.

Resistance levels: 95.31, 96.88, 99.00, 100.40. | Support levels: 92.19, 90.62.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023