Raytheon Technologies Stock Forecast

Sell candidate since Dec 04, 2024

The Raytheon Technologies stock price gained 0.97% on the last trading day (Wednesday, 4th Dec 2024), rising from $118.09 to $119.24. During the last trading day the stock fluctuated 1.59% from a day low at $117.50 to a day high of $119.37. The price has risen in 6 of the last 10 days and is up by 0.23% over the past 2 weeks. Volume fell on the last day by -252 thousand shares and in total, 2 million shares were bought and sold for approximately $216.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $117.95 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Raytheon Technologies stock with a 90% probability to be traded between $117.84 and $127.03 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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RTX Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, December 03, 2024, and so far it has risen 0.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Raytheon Technologies stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $119.63 and $121.84. A break-up above any of these levels will issue buy signals.

Support, Risk & Stop-loss for Raytheon Technologies stock

Raytheon Technologies finds support from accumulated volume at $118.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.87 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.60%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RTX) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect Raytheon Technologies Corporation to open at $118.70, and during the day (based on 14 day Average True Range), to move between $117.04 and $121.43, which gives a possible trading interval of +/-$2.20 (+/-1.84%) up or down from last closing price. If Raytheon Technologies Corporation takes out the full calculated possible swing range there will be an estimated 3.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $118.97 (0.22%) than the resistance at $121.16 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Raytheon Technologies Corporation stock A Buy?

Raytheon Technologies holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.138 Sell Candidate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $118.70 ( 0.447%).