Here’s How To Trade United Technologies
InTheMoneyStocks.com | Apr 30, 2018 11:56AM ET
United Technologies (NYSE:UTX) provides high tech products and services to the aerospace industry and is a leading component of the Dow Jones Industrial Average (DJIA). UTX topped out in late January at $139.24 a share and since that high pivot, the stock has declined sharply lower.h3 Support/h3
United Technologies is down by 0.78 cents to $121.67 a share, which puts it below its 50- and 200-day moving averages. This chart formation still signals further weakness to come in the stock. The next major support level for UTX is around $118, which is an area where the stock was defended and broke out from in late November 2017. Often, the first retest of a breakout level will serve as excellent chart support. I will be keeping a close eye on UTX around the $118.00 level for a long side trade.
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