RTX CORP (NYSE:RTX) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has flagged RTX CORP (NYSE:RTX) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:RTX for potential movement.

Analyzing the Technical Aspects

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to RTX. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, RTX is only an average performer.

• The long and short term trends are both positive. This is looking good!
• RTX is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month RTX has a been trading in the 100.67 - 107.81 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• Looking at the yearly performance, RTX did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• RTX is an average performer in the Aerospace & Defense industry, it outperforms 61% of 64 stocks in the same industry.

Our latest full technical report of RTX contains the most current technical analsysis.

How do we evaluate the setup for NYSE:RTX?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:RTX exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

RTX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 106.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 105.57, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:RTX

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.