Raytheon Technologies HTF Trend continuation after some ranging?Here's my analysis on Raytheon Technologies:
Given the ongoing war situation, I've been asked about defense stocks. We're examining a large overarching structure that has reached its resistance line. Previously, the chart showed strong impulsive movements, both upward and downward, as seen in the grey correction. However, at the green structure's resistance line, this impulsiveness has diminished. I expect we won't follow the usual pattern of dropping to the XY correction level to gather momentum. Instead, we'll likely continue correcting, similar to the W wave.
I'm focusing on the orange correction level, anticipating a minor dip into the orange box to start an orange sequence, which could lead us to the green sequence's target levels.
