United Technologies Stock Price is corrected &124.79 to 114.19. Let’s analyze the stock for short term trading with price action analysis. On my last analysis, “United technologies Divided Technical views” I clearly mentioned about $114 as strong support the stock bounced back to the levels of $121 now trades around $118. Let’s have a fresh look.
United Tech reached a deal to buy Rockwell Collins:
United Technologies has reached a deal to buy Rockwell Collins for $23 billion. It is the biggest ever aerospace deal. The Wallstreet Journal reports the news.
- deploying $23 billion to acquire COL be a wise move for UTX?
- The math for shareholder repurchase is more lucrative.
- Maintain my bearish stance on the stock even if the deal goes through.
United Technologies Stock Price Analysis:
No need to change the support and resistance levels. $114 is the strong support for the United Technologies Stock Price.While the stock breaks the support then it may fall towards $85. If the Stock holds Support the $135 is short term target. As per the technical analysis, the stock has to break $126 which is trend line breakdown resistance.