United Technologies Corp (UTX)

[ITMS]

Know This Trade Level For United Technologies Corp $UTX

United Technologies Corporation (NYSE:UTX) is engaged in providing high technology products and services to the building systems and aerospace industries around the world. This stock is leading component of the Dow Jones Industrial Average (DJIA). Traders should note that UTX stock topped out in late January at $139.24 a share. Since that high pivot, the stock has declined sharply lower. Today, UTX is trading down by 0.78 cents to $121.67 a share. It is important to note that UTX stock is now trading 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 will be around the $118.00 level. This is an area where the stock was defended and broke out in late November 2018. Often, the first retest of a breakout level will serve as excellent chart support. I will be keeping a close eye on UTX stock around the $118.00 level for a long side trade.





Nicholas Santiago
InTheMoneyStocks