Current trend

Shares of RTX Corp., an American aerospace and defense conglomerate, are moving as part of a long-term upward trend. In October, the quotes reversed from 68.75 (Murrey level [ 2/8]), returned to Murrey’s main trading range, and are testing 90.62 (Murrey level [ 5/8]), supported by the middle line of Bollinger Bands. After consolidating above, the positive dynamics will continue to the area of 93.75 (Murrey level [6/8]), 96.88 (Murrey level [7/8]), and 100.00 (Murrey level [8/8]). In the event of a breakdown of the central level of the trading range 87.50 (Murrey level [4/8]), the key “bearish” level, the current trend may change, and the decline will resume around 81.25 (Murrey level [2/8]) and 75.00 (Murrey level [0/8]).

Technical indicators do not give a single signal: Bollinger Bands reverse horizontally, Stochastic heads upwards from the oversold zone, and the MACD falls in the positive zone.

Support and resistance

Resistance levels: 90.62, 93.75, 96.88, 100.00.

Support levels: 87.50, 81.25, 75.00.

Trading tips

Long positions may be opened above 90.62, with the targets at 93.75, 96.88, 100.00, and stop loss 88.60. Implementation time: 5–7 days.

Short positions may be opened below 87.50, with the targets at 81.25, 75.00, and stop loss 90.00.