In the shares of United Technologies there is a correctional decrease of 4% from a four-month high of September 16. Since the beginning of the year, the emitter’s quotes grew by more than 25.5%. United Technologies received a Pentagon contract for the supply of engines for F-35 fighters with a total value of USD 2.2 billion. The company announced the publication of financial results for Q3 on October 22.
In the previous week, the stock of United Technologies dropped by 1.25%. S&P500 dropped by 0.88% within the same period.
Support and resistance
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The stock of the company is showing an ambiguous technical picture. The emitter is in the side movement. No single direction tendencies are observed. Currently, key support and resistance levels are at 133.00 and 138.00, respectively. #UTX shares have the potential for decline.
Indicators don’t give a clear signal: the price has crossed MA(50); MACD shows a negative trend. Positions are to be opened from key levels.
Comparing the company’s multiplier with its competitors in the industry, we can say that #UTX shares are undervalued.
Support levels: 133.00, 130.00, 128.00.
Resistance levels: 138.00, 140.00, 144.00.
If the price consolidates below the support level of 133.00, #UTX quotes are expected to fall. Potential profits should be locked in by orders at 129.00, 126.00, and 123.00. Stop loss – 137.00.
If the price consolidates above the level of 138.00, one may consider buying the company’s stock. The moving potential is aimed at the area of 144.00–148.00. Stop loss – 134.00.
Implementation period: 3 days.
United Technologies Corporation offers technology products and services for construction systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells and installs passenger and cargo elevators, escalators and moving aisles; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services. The Carrier segment of the company offers products, solutions and services for heating, ventilation, air conditioning, refrigeration, fire, security and building automation for commercial, government, infrastructure, residential and refrigeration and transportation applications. This segment also offers construction services, which include auditing, design, installation, system integration, repair, maintenance and monitoring. Its Pratt & Whitney segment supplies aircraft engines for commercial, military, commercial aircraft and general aviation markets; and provides maintenance, repair and review of the aftermarket, as well as fleet management services. The company’s Collins Aerospace Systems segment provides electric power generation, energy management and distribution systems; air data and aircraft detection systems; motor control, intelligence, surveillance and recognition systems; engine components; environmental control systems; fire and ice detection, and protection systems; propeller systems; engine gondola systems; lighting systems, seats and aircraft loading; performance and landing systems; space products and subsystems; avionics systems; flight controls, communications, navigation, oxygen and training systems; food and beverage preparation, and storage and kitchen systems; and bath and wastewater management systems. The company offers its services through representatives of manufacturers, distributors, wholesalers, distributors, retail outlets and sales representatives, as well as directly to customers. United Technologies Corporation was founded in 1934 and is based in Farmington, Connecticut.