United Technologies Corporation (UTX/NYSE): general review
11 December 2018, 12:36
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 117.00 |
| Take Profit | 114.00, 112.00, 110.00 |
| Stop Loss | 118.00, 120.00 |
| Key Levels | 115.00, 117.00, 120.50, 123.50, 127.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 120.55 |
| Take Profit | 126.00, 129.00 |
| Stop Loss | 117.50 |
| Key Levels | 115.00, 117.00, 120.50, 123.50, 127.00 |
Current trend
Shares of United Technologies have lost 6.7% of their value since November 26 due to the corporate news. At the end of yesterday's trading session, the issuer quotes entrenched at a new 3-month low and traded with a premium of 1.7% against the May 52-week low. Investors are pressured by the uncertainty after the division of United Technologies into three independent business units: UTC Aerospace Systems, Otis Elevator and Carrier HVAC.
Over the past week, United Technologies shares fell by 1.99%. For the same period, the S&P500 fell by 4.43%.
Support and resistance
The shares of the company are dominated by "bearish" mood. Currently, the issuer is consolidating: #UTX quotes test local support and resistance levels: 117.00 and 120.50 respectively. However, trading instrument has the potential to further decline. Indicators reflect the strength of sellers: the price has fixed below 50 MA and 200 MA; MACD is in the negative zone.
Comparative analysis of the multipliers of the company and competing companies in the industry indicates the neutrality of #UTX.
Support levels: 117.00, 115.00.
Resistance levels: 120.50, 123.50, 127.00.
Trading tips
If the price consolidates below the support level of 117.00, a further drop in quotations of #UTX is expected. Potential profit levels would be 114.00, 112.00 and 110.00. Stop loss is 120.00.
If the price consolidates above 120.50, you should consider buying #UTX. The potential movement to 126.00–159.00. Stop loss is 117.50.
Trading scenarios will be relevant for 3 days.
Shares of United Technologies have lost 6.7% of their value since November 26 due to the corporate news. At the end of yesterday's trading session, the issuer quotes entrenched at a new 3-month low and traded with a premium of 1.7% against the May 52-week low. Investors are pressured by the uncertainty after the division of United Technologies into three independent business units: UTC Aerospace Systems, Otis Elevator and Carrier HVAC.
Over the past week, United Technologies shares fell by 1.99%. For the same period, the S&P500 fell by 4.43%.
Support and resistance
The shares of the company are dominated by "bearish" mood. Currently, the issuer is consolidating: #UTX quotes test local support and resistance levels: 117.00 and 120.50 respectively. However, trading instrument has the potential to further decline. Indicators reflect the strength of sellers: the price has fixed below 50 MA and 200 MA; MACD is in the negative zone.
Comparative analysis of the multipliers of the company and competing companies in the industry indicates the neutrality of #UTX.
Support levels: 117.00, 115.00.
Resistance levels: 120.50, 123.50, 127.00.
Trading tips
If the price consolidates below the support level of 117.00, a further drop in quotations of #UTX is expected. Potential profit levels would be 114.00, 112.00 and 110.00. Stop loss is 120.00.
If the price consolidates above 120.50, you should consider buying #UTX. The potential movement to 126.00–159.00. Stop loss is 117.50.
Trading scenarios will be relevant for 3 days.
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