Raytheon Technologies Corp. -Watchlist Only - 01/23/24

Chart of the Day: (01/23/24)

Raytheon Technologies Corp.

(RTX, NYSE)

Stop: $84.43 (below 50 SMA) or $79.47 (below 100 SMA) depending on timeframe.

Watchlist only for now:

• RTX has made a 200 Day Moving Average reclaim, after earnings, in industrials. Has been a laggard as well, but improving. 

• I prefer the established chart leaders here, but the 200-sma reclaim can be a constructive signal.

• Note: Over 50% of the S&P500 are reporting earnings between 01/23/24 and 2/13/24. Stocks into earnings create wide ranges in not only the reporting issuer, but also stocks in the same sector. As such ETFs may be more prominent on the Chart of the Day list. 

• Our Chart of the Day is intended to be a standalone technical chart. 

• We use them to highlight open positions, stocks on our watch list, or indicators that we believe are important, or just interesting at the time. 

• It is not a directional market call. 

• Feel free to share them with others who may be interested.