Long

$RTX Ready for Flat Base Breakout?

Updated

Well Fargo upgraded RTX yesterday and give it a $120 price target. I used this morning’s early pullback to get an early start on this one. It will not be a technical breakout until it moves over 92.81. My plan is to build an oversized position after it breaks out of this flat base. I will be patient but have a stop of no more than 3% loss.

On another note, in the first 20 minutes of trading the volume was already 28% of the daily average.

See notes on the chart for more detail. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Note

We have the breakout. I now have a 125% position. I do not think this will be a barn burner but, there is a chance of a 20 to 25 percent gain over the next couple months. All TBD.

Note

Continues its accent... I love it when one of my ideas work out. (I am wrong at least 50% of the time). I plan on staying with this one for a sustained move. But in any event I will not let it turn into a losing trade.

Note

I added again this morning and now have a 170% position. My largest position this year. The add this morning looks to be a resumption of the uptrend.

Note

Just say Yes to Defense! up 1.5% today

Note

- RTX's Pratt & Whitney receives full funding for F135 Engine Core Upgrade in FY 2024 Defense Appropriations bill.

This should help power RTX to more price gains. TBD.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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