United Technologies Corporation provides technology products and
services to the building systems and aerospace industries worldwide. Its
Otis segment designs, manufactures, sells, and installs a range of
passenger and freight elevators, escalators, and moving walkways;
modernization products to upgrade elevators and escalators; and
maintenance and repair services. The company’s UTC Climate, Controls,
& Security segment provides heating, ventilating, air conditioning,
and refrigeration solutions, such as controls for residential,
commercial, industrial, and transportation applications. Its Pratt &
Whitney segment supplies aircraft engines for commercial, military,
business jet, and general aviation markets, as well as provides fleet
management services for commercial engines; spare parts; and
maintenance, repair, and overhaul services. The company’s UTC Aerospace
Systems segment supplies aerospace products, including electric power
generation, management and distribution systems, flight control systems,
engine control systems, intelligence, surveillance and reconnaissance
systems, engine components, environmental control systems, etc. Its
Sikorsky segment manufactures military and commercial helicopters, as
well as provides aftermarket helicopter and aircraft parts and services.
To review United’s stock, please take a look at the 1-year chart of
UTX (United Technologies Corporation) below with my added notations:
UTX has essentially been trading sideways since March, while forming a
common pattern known as a rectangle. A minimum of (2) successful tests
of the support and (2) successful tests of the resistance will give you
the pattern. UTX’s rectangle pattern has formed a $120 resistance (red)
and a $112.50 support (blue). A break above $120 would also be a new
52-week high.
The Tale of the Tape: UTX is trading within a
rectangle pattern. The possible long positions on the stock would be
either on a pullback to $112.50, or on a breakout above $120. The ideal
short opportunity would be on a break below $112.50.
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