RTX trade ideas
My overview of RTX in a short-mid term viewI'm new to options and just wanted to put this out there to see if I was thinking the right way, and maybe even helping some of y'all out. Let me know what you think!!!!
(This is not any kind of financial advice.)
How To Analyze an Indicator.Several FinTwit in my network asked me how to use the Relative Strength indicator which I called PriceRatio in TradingView.
My best explanations are noted in the text box of this chart. I use this approach to analyze most indicators and stock price actions.
RTX Raytheon if Trump wins on Nov 3rdFirst idea post on here.
Lurking in the shadows for years. Stealing all of your wonderful trades.
Been accumulating Raytheon RTX Since Aug between $58 -$60
I believe a Trump win will set off a massive Rally in Defense/Military contractors
RTX has a Really nice 10+ year Channel Never Broken
Been at the Bottom of the channel since Covid
Raytheon has a massive backlog of product to ship out( including Patriot shelters, Mobilizers, EEU ect).
Defense contractors kicking production into overdrive last month to deliver backlogs
Product will start shipping over the next month leading up to the election.
Wedge is closing in leading right to the election day.
Look for entry/accumulation between $59-$62
Set tight Stop at $57.99
After take off set a trailing stop or set Fib Targets
RTX longRaytheon has bounced off of this green resistance twice and based on where the stock is relative to its RSI, it looks like there is room for more buyers to come in to push past the resistance and hopefully towards old highs. RSI is only at about 54 on the YTD chart. If it closes past this level of $74.76 at least 3 trading days in a row, the trend should hold.
The fair-value estimate for RTX is $77 so it has room to go and has not fully recovered yet on the year. Defense spending and air travel should return to normal as vaccinations become more widespread. It has underperformed the S&P 500 all year but that trend is getting tired; go long. It still has a whole lot of catching up to do.
RTX FlagRTX has had a run up and then been in a consolidation pattern forming a flagging formation. Buying at the bottom of the flag pattern and looking for a breakout.
RTX breakout RTX is primed for a breakout, it has the same pattern that BA has had, this would be a good long.
2020 Actual Trade: RTX +17% Profits
RTX went up and down in sudden turns from March to July
Only stabilized period is between August and mid- September
Looking like a breakout on 09/16 where we got into RTX
But, it turned out to be wrong entry point so it suffered under-water period for about 1.5 months
Holding through this tough time knowing its volatile nature paid off a reward +17% profits in November
RTX Gap Fill ReversalRTX had a gap in its past price action, it has recently filled the gap after it reported earnings. Now it has reversed after the gap fill. This is a gap fill reversal and am looking for it to reverse back to where the original gap formed at the $55.5 level.
RTX prepare to LongTrendline Break by Gap
Wait re-test trendline
Entry 60
Stop: 56
Target: 80;
Earning date 10/27/2020 6 AM
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
RTX Round upRTX is forming a rounding up formation, looking like its going back to the 63.5 range. Its moving averages are holding up as support.
RTXi think this is good to buy here, obviously lagging the market, institutional interest, airlines may be in trouble for a while but related stocks like this one should be fine, more of long term hold ("long term" for me is like more than a month), if this hits the 70-80 range in two or three months that'll be good enough for me, also think it's a legit long term (over a year) hold as well
RTX FlagRTX has been a consolidation flag since March, it has broken below its moving averages and is reaching the apex of the flag. I'm expecting this to actaully break downward to the $56 area.
Possible Bullish Breakout from WedgeRTX price broke above the symmetrical wedge. The defense is generally undervalued (stock fell due to coronavirus, but government defense spending has not). Wait for it to retest the wedge and if it reverses take a long position
RTX - LONG - 5YR+ HOLD - VALUE! NOT A FINANCIAL ADVISOR NOR IS THIS FINANCIAL ADVICE. DO YOUR OWN RESEARCH BEFORE BUYING AND SELLING. TRADE AT YOUR OWN RISK.
MILITARY INDUSTRY IS STEADY CONTRACTS -- EVEN DURING A PANDEMIC
SOLID TREND UPWARDS TOWARD ATH'S
TRADING AT A MASSIVE DISCOUNT -- 100%+ GAP BETWEEN ATH AND MARCH LOW
SL AT 56-52
T1 67
T2 75
T3 84
RTX long term.RTX great setup for next 6 months. Major resistances lie at $64 and $72. Expecting mid $80's by early Spring. Above $60 no short term danger.
