Ultimately long. Short term drop with resistance possibly being tested at $134.50; good entry for short term call. Smooth and defined occilations allows for plenty of entry opportunities in the near future.
Follow the comments on the chart! If the price goes up to the size of the stop loss point, put the stop loss on the entry point, Stop loss means that the closing price must be below the Stop line, the shadows are not acceptable.NYSE:UTXSP:SPXDJ:DJI
THE UTX PRICE HAS SHOWN DIVERGENCE WITH THE MOMENTUM AND BROKE THE TREND LINE DOWN . IN ADDITION, UTX PRICE CLOSED TODAY BELOW SMA 50.
THE FIBONACCI TARGET AT 61.8% IS 113.97 AND A SECOND TARGET AT 78.6% RETRACEMENT IS 111.82
THE STOP LOSS IS SET UP AT 120.50
THIS IS ONLY FOR EDUCATION PURPOSES.
UTX/USD is showing a potential inverse head & shoulders here. target level is around $163 if this ends up being a valid pattern.
fundamentally this is a defense and aerospace related stock; with a 2nd Korean war looking more and more likely every day, this could be the news-related catalyst for the price movement.