In-Depth Technical Analysis of RTX CORP.

Our stock screener has spotted RTX CORP (NYSE:RTX) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:RTX.

Technical Analysis Observations

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, RTX scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, RTX did better than 77% of all other stocks. We also observe that the gains produced by RTX over the past year are nicely spread over this period.
• RTX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so RTX is lagging the market slightly.
• In the last month RTX has a been trading in the 117.13 - 125.54 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.
• RTX is part of the Aerospace & Defense industry. There are 65 other stocks in this industry, RTX did better than 60% of them.

For an up to date full technical analysis you can check the technical report of RTX

Looking at the Setup

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:RTX this score is currently 8:

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. There is a resistance zone just above the current price starting at 125.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 120.10, a Stop Loss order could be placed below this zone.

How to trade NYSE:RTX?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

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.