Bullish Moving Average Cross by Raytheon (RTN)

Published on Thu, 02/19/2015 - 12:14
By Adrienne Chilton in Moving average crossovers, RTN, moving crosses, nyse:rtn, raytheon

Today, shares of Raytheon (NYSE:RTN) have advanced above their 10-day MA of $107.18 on a volume of 367K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Raytheon Company conducts operations in defense and government electronics, space, information technology and technical services. The Company designs, develops, manufactures, integrates, supports and provides a wide range of products, services and solutions for principally governmental customers in the United States and abroad. Raytheon has employees worldwide.

There is potential upside of 5.8% for shares of Raytheon based on a current price of $108.04 and an average consensus analyst price target of $114.31. The stock should find initial support at its 50-day moving average (MA) of $106.69 and further support at its 200-day MA of $100.02.

In the past 52 weeks, Raytheon share prices have been bracketed by a low of $89.17 and a high of $111.47 and are now at $108.04, 21% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.08% lower over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

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