UTX closes lower for the 2nd day in a row


United Technologies (UTX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
UTX breaks below 20-day moving average
UTX finds buyers at key support level
UTX closes lower for the 2nd day in a row
UTX breaks below previous session low
UTX falls to lowest close since July 23rd
TQ Sentiment
Report Sentiment: 33% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, UTX ended the week -0.59% lower at 133.10 after losing $1.14 (-0.85%) today. Today's closing price of 133.10 marks the lowest close since July 23rd. Closing below Thursday's low at 134.05, United Tech confirms its breakout through the previous session's low having traded $1.76 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for UTX
Volatility

Friday's trading range was $1.46 (1.09%), that's slightly below last trading month's daily average range of $1.89. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 132.29 during the day, United bounced off the key support level at 132.64. The failure to close below the support might increase that levels importance as support going forward.

Trend

Though the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The stock broke below the 20-day moving average at 133.15 today for the first time since July 11th.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for United Technologies
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
Takuri Line TQ Pro Members Only
Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when United Technologies traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
BTCUSD 6,266.7342.19 0.68%
TBOND 144.5620.687 0.48%
ASX 6,329.0029.40 0.47%
EURUSD 1.13460.0002 0.02%
DXY 96.580-0.025 -0.03%
GBPUSD 1.2696-0.0026 -0.20%
ETHUSD 279.29-0.83 -0.30%
USDJPY 110.74-0.41 -0.37%
NATGAS 2.939-0.016 -0.54%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV97.45 1.53
1.60%
ACN 10 day candlestick chart for ACN160.41 -0.83
-0.51%
ADBE 10 day candlestick chart for ADBE250.52 -5.53
-2.16%
AAP 10 day candlestick chart for AAP158.03 1.90
1.22%
AES 10 day candlestick chart for AES13.49 -0.01
-0.07%
AET 10 day candlestick chart for AET197.29 0.34
0.17%
AFL 10 day candlestick chart for AFL46.29 -0.22
-0.47%
AMG 10 day candlestick chart for AMG145.43 -1.20
-0.82%
A 10 day candlestick chart for A64.73 -2.02
-3.03%
ABT 10 day candlestick chart for ABT63.47 -0.16
-0.25%