Buy Raytheon Technologies now as bullish confluence emerge

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Raytheon Technologies Corporation (NYSE:RTX) will be among the few companies set to gain from the crisis in Ukraine. As a military manufacturer, Raytheon will record growth in demand from countries seeking to support Ukraine.

Most importantly, the threat of war from Russia serves as a call to action for countries in Europe to invest in their militaries. Germany, for instance, moved to increase budgetary allocation to military and national defense. Raytheon will be a key beneficiary from these policy shifts.

The share price is already rallying. The market anticipates Raytheon to report growth in revenues. Most importantly, investors look forward to good dividends in the coming declarations as the company records growth.

Raytheon set to cross above $100

Source – TradingView

Technical analysis indicates a bullish trend confirmed by moving averages, MACD, and even the RSI. At a price of $97.04, the company is trading above all moving averages. This confirms a bullish pattern in the short term.

In fact, Raytheon is projected to test the $100 level within the week. The RSI at $60 is above the simple moving average and significantly below 70, where the company would face some resistance.

The level of the RSI confirms the continuing rally in price. The last key indicator confirming this trend is the MACD which is above the signal and with a growing divergence. The MACD confirms that Raytheon is a buy.

Summary

Raytheon Technologies will gain significantly from policy changes on military financing, especially in Europe. The share has been rallying with expectations to break through the $100 level within the week. Raytheon is a buy as the share continues to rise.

The post Buy Raytheon Technologies now as bullish confluence emerge appeared first on Invezz.

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