The shares of RTX Corp., an American aerospace and defense conglomerate, are trading in a correction trend at 124.00.

On the daily chart, the price is holding below the resistance level of the ascending channel 134.00–115.00 within the correction.

On the four-hour chart, the growth has turned into an independent trend, confirmed by the recent consolidation above the year’s high of 123.60. After the end of the correction, the key obstacle will remain the last week’s high of 126.00. After a consolidation above, the price may reach the resistance line of 133.00.

Technical indicators are holding a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram is forming correction bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 125.50, with the target at 133.30. Stop loss — 122.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 121.20, with the target at 113.50. Stop loss — 124.00.