Analysis: #NYSE #RTN
Case 8 #RaytheonCompany
DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to place trades.
Please do your own research!
Thread 👇👇👇
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Case 8 #RaytheonCompany
DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to place trades.
Please do your own research!
Thread 👇👇👇
1/9
This #stock has been trading in a wide range of approximately $60 and then a #breakout happened in 2014 and since then the stock has gone #parabolic reaching it's all time peak at $229.75 in April 2018. Thereafter a low of $144.27 traded.
#Raytheon is a strong buy.
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#Raytheon is a strong buy.
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Chart 1
Monthly: The monthly pivots on a closing basis. #Trendline pivot support and resistance has also been added.
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Monthly: The monthly pivots on a closing basis. #Trendline pivot support and resistance has also been added.
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Chart 2
Monthly: Trendline support off low of parabolic move has yielded and price not able to close back above trendline, rendering it a resistance. Fibs have been added on parabolic move. Cluster support is also noted. Fib 0.618% @ $146.67 which repelled downside.
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Monthly: Trendline support off low of parabolic move has yielded and price not able to close back above trendline, rendering it a resistance. Fibs have been added on parabolic move. Cluster support is also noted. Fib 0.618% @ $146.67 which repelled downside.
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Chart 3
Monthly: Inverted Fibs have replaced normal Fibs to show immediate resistance points above monthly pivot closes & supporting trendline, turned resistance. We are unsure if support (teal) and resistance (red) are trendlines or trendline pivot. Time will tell.
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Monthly: Inverted Fibs have replaced normal Fibs to show immediate resistance points above monthly pivot closes & supporting trendline, turned resistance. We are unsure if support (teal) and resistance (red) are trendlines or trendline pivot. Time will tell.
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Chart 4
Monthly: Minor and major supports are visible. The'll come into play unless price closes above the stacked resistance points.
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Monthly: Minor and major supports are visible. The'll come into play unless price closes above the stacked resistance points.
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Chart 5
Weekly: Fibs drawn off the last swing low for confluence and to get a hint of the resistances above.
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Weekly: Fibs drawn off the last swing low for confluence and to get a hint of the resistances above.
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Chart 6
Weekly: The inverted Fib resistances above are now visible.
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Weekly: The inverted Fib resistances above are now visible.
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Chart 7
Weekly: A bullish bar has broken and closed above the Fib 0.50% and monthly pivot close but momentum was not strong enough. Minor support is visible.
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Weekly: A bullish bar has broken and closed above the Fib 0.50% and monthly pivot close but momentum was not strong enough. Minor support is visible.
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