Raytheon : Toward a new highest price
Entry price | Target | Stop-loss | Potential |
---|
$106.82 |
$112 |
$103.9 |
+4.85% |
---|
Raytheon Company shares should continue in their bullish trend and reach a new highest price.
The business displays a low valuation and a strong profitability. Analysts forecast underlines its growth prospects. Recently, it has added the State of Qatar to its 12 customers, and has been awarded a 2.4 billion dollars contract to provide it with defence systems.
Graphically, the stock is on a bullish trend on all time scales. Prices have rebounded upon contact with the USD 102.6 short term support, crossing their 20 day moving-average and the USD 106.3 pivot point. All moving averages remain positively oriented on both daily and weekly data, which should support the bullish movement.
Thus, it seems opportune to open a long position on the stock to target a return to the USD 110 resistance then the upward trendline around USD 112. However, a stop loss should be placed under the pivot point, to protect the position from possible bearish fluctuations.
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