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Cisco Systems, Inc. (CSCO/NASD): general review 15 December 2017, 13:29

Cisco Systems, Inc. (CSCO/NASD): general review 15 December 2017, 13:29 Scenario Timeframe Intraday Recommendation BUY ST...

Dec 7, 2017

United Technologies Corporation (UTX/NYSE) 07 December 2017, 12:42


Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 121.65
Take Profit 123.00, 124.00, 125.00
Stop Loss 120.20
Key Levels 116.35, 118.00, 120.00, 121.60, 124.0
Current trend
In 2018 the investors of United Technologies Corp. will be focused on the completion of the purchase of Rockwell Collins, Inc. and the implementation of long-term company development strategy. After the completion of the transaction and consolidation of its assets United Technologies Corp. expects to spare $500 mln from its annual operative costs. In 2018 an important role in the company’s growth will be played by the restoration of sales in the “Aerospace Systems” segment and the expansion of Otis elevators in the Chinese market.
Within the previous week the stock of United Technologies Corp. grew by 2.57%. S&P500 dropped by 0.33% within the same period of time. Comparing the company’s multipliers with those of its competitors, we can say that #UTX shares are undervalued.
Support and resistance
The stock of the company continues to demonstrate positive dynamics. Currently the price is testing the key resistance level of 121.60. The nearest support is at the level of 120.00. Further growth of #UTX quotes is also possible. Indicators show the strength of the buyers: the price has consolidated above MA(50) and MA(200), MACD is located in the positive zone and continues to grow. Positions should be opened within the main trend.
Support levels: 120.00, 118.00, 116.35.
Resistance levels: 121.60, 124.00.

Trading tips
If the price consolidates above the key resistance level of 121.60, one may consider buying #UTX. Potential profits may be locked in by orders at 123.00, 124.00 and 125.00. Stop-loss should be placed at 120.20.
Trading tips will be relevant for 3 days.

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