Textron Inc. operates in the aircraft, defense, industrial, and
finance businesses worldwide. It operates through five segments: Cessna,
Bell, Textron Systems, Industrial, and Finance. The Cessna segment
manufactures business jets, single-engine utility turboprops, and
single-engine piston aircraft, as well as parts, maintenance,
inspection, and repair services. The Bell segment manufactures and
supplies military and commercial helicopters, tiltrotor aircraft, and
related spare parts and services. The Textron Systems segment produces
unmanned aircraft systems; armored vehicles, turrets and related
subsystems, and marine craft and smart weapons. The Industrial segment
offers blow-molded plastic fuel systems, windshield and headlamp washer
systems, engine camshafts, catalytic reduction systems, and other parts.
The Finance segment provides commercial loans and leases for aircraft
and helicopters.
Take a look at the 1-year chart of Textron (NYSE: TXT) with my added notations:
Like yesterday’s LINTA, TXT has also been trading mostly sideways for
the last 5 months. Over that period of time TXT has formed a resistance
level at $41 (red). In addition, the stock has also created a level of
support at $37 (blue). At some point the stock will have to break one of
the two levels that the sideways consolidation has created.
The Tale of the Tape: TXT has clear levels of
support ($37) and resistance ($41). The possible long positions on the
stock would be either on a pullback to $37, or on a breakout above $41.
The ideal short opportunity would be on a break below $37.
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