Raytheon Company develops integrated products, services, and
solutions in the areas of sensing; effects; command, control,
communications, and intelligence; mission support; and cyber and
information security worldwide. It operates in four segments: Integrated
Defense Systems; Intelligence, Information, and Services; Missile
Systems; and Space and Airborne Systems. Raytheon Company serves the
U.S. Department of Defense (DoD), the U.S. Intelligence Community, the
Federal Aviation Administration, the U.S. Armed Forces, the National
Oceanic and Atmospheric Administration, Department of Homeland Security,
the National Aeronautics and Space Administration, and other
international customers.
Please take a look at the 1-year chart of RTN (Raytheon Company) below with my added notations:
For the most part, RTN rallied nicely up to April of this year.
However, the stock has been trading sideways for the last few months
while holding an important level of support at $95 (blue). Earlier this
week the stock finally broke that support. RTN should be moving overall
lower from here.
The Tale of the Tape: RTN had a key level of support
at $95. Now that the stock has broken support, a trader might want to
enter a short trade at or near the $95 level with a stop placed above
that level. A break back above $95 could negate the forecast for a move
lower.
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